Aviation stocks up on falling crude prices

Aviation shares rose in Tuesday's trade with shares of Jet Airways, Spicejet and IndiGo soaring on the back of falling global crude oil prices after US President put pressure on Opec not to cut supply.

Shares of Jet Airways, SpiceJet and Interglobe Aviation rose around 1 per cent to 6.4 per cent. Jet Airways rose around 1.01 per cent while shares of Interglobe Aviation were up around 2.6 per cent.

Jet Airways posted its third quarterly loss in a row as yields remained under pressure and fuel expenses rose. The carrier, which is facing debt repayments, bills from vendors and has delayed salaries several times, is on the hunt for an investor to throw it a financial lifeline but the board didn’t divulge anything new on fundraising.


Meanwhile, the shares of Jet Airways opened at Rs 228 on BSE against its previous closing of Rs 242.05.