Aviation stocks soar

Spicejet is among the top five gainers currently, rising 13% to Rs.91.85 and Indigo jumped up almost 6% to Rs.1739.65, not too far from its 52-week high of Rs.1743.80.

The two listed aviation stocks are up as the Civil aviation ministry yesterday allowed airlines to sell seats up to 80% of their pre-covid capacity on domestic flights, up from the existing 70%.

This comes as a relief to the airlines companies as they can now fly more passengers during the Christmas-New Year period.

Domestic operations recommenced with 30,000 passengers on 25 May & have now touched a high of 2.52 lakhs on 30 Nov 2020.

Though this is good news, it will take a lot more for the companies to work their way out of the huge losses and debt.