IndiGo, SpiceJet fly up to 9% as govt announces to resume international flight

New Delhi: Aviation stocks were in demand on Wednesday, rising up to 9 per cent after the civil aviation ministry announced plans to resume international flights from March 27.

"The suspension of scheduled commercial international passenger services to and from India, thus, stands extended only up to 23:59 hrs IST on March 26, 2022, and air bubble arrangements shall accordingly be extended to this extent only," the ministry said.

Following the development, shares of Interglobe Aviation, the parent company of Indigo, zoomed 9 per cent to Rs 1,726.45 before trading at Rs 1,691 at 10.20 am. The scrip had settled at Rs 1,600.05 on Tuesday.


Another listed peer, SpiceJet rallied 7 per cent to Rs 60.75, before dropping to Rs 59.85 at the same time. At Tuesday's close, the stock was at Rs 57.

BSE barometer and benchmark Sensex was trading 512.96 points or 0.96 per cent higher at 53,937.05 at the time of writing this report.

Prior to this, the Directorate General of Civil Aviation (DGCA) had extended the ban on regular international flights until further orders on February 28. However, DGCA allowed flights under air bubble arrangements.

India has air transport bubbles with 40 countries including Canada, France, Germany, United Arab Emirates, the United Kingdom, and the US at present.