Aviation stocks fly high as Cabinet approves new aviation policy
The policy will also provide more sops for MRO operations and regional carriers. The civil aviation ministry has also approved a Rs 2,500 cap for 1-hr flight.
By ET Online |
NEW DELHI: Shares of domestic airlines ended higher by 4 per cent on Wednesday after the Union Cabinet cleared the new aviation policy. Shares of Jet Airways closed 0.21 per cent up, that of SpiceJet 3.75 per cent and InterGlobe Aviation 1.6 per cent.
Early reports said the new policy has abolished the 5/20 rule for flying overseas. The rule allowed only carriers with 20 aircraft and five years of flying experience to provide international flights.
The policy will also provide more sops for MRO operations and regional carriers. The civil aviation ministry has also approved a Rs 2,500 cap for 0ne-hour flight.
Civil aviation minister Ashok Gajapathi Raju will brief the media with further details at 1:30 pm on Wednesday.
Early reports said the new policy has abolished the 5/20 rule for flying overseas. The rule allowed only carriers with 20 aircraft and five years of flying experience to provide international flights.
The policy will also provide more sops for MRO operations and regional carriers. The civil aviation ministry has also approved a Rs 2,500 cap for 0ne-hour flight.
Civil aviation minister Ashok Gajapathi Raju will brief the media with further details at 1:30 pm on Wednesday.
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