Jet Airways, Kingfisher in demand on airfare hike
Shares of airline companies gathered momentum following a hike in the fares of domestic flights on account of the increase in fuel surcharge.
By ET Bureau |
MUMBAI: Shares of airline companies gathered momentum following a hike in the fares of domestic flights on account of the increase in fuel surcharge.
Jet Airways and Kingfisher Airlines, and also their low-cost subsidiaries, Jet Lite and Kingfisher Red on Monday hiked fuel surcharge on domestic flights by up to Rs 300 per passenger.
The increase in surcharge follows hike in Aviation Turbine Fuel last week. State-run oil companies had on April 15 raised prices of jet fuel for the third time in a month, by about 6.7 per cent.
Consequently, Jet and Kingfisher announced an identical hike of Rs 200 for sectors below 750 km and Rs 300 for over 750 km, which would also be applicable on flights of their budget carriers JetLite and Kingfisher Red.
At 11:30 am, shares of Jet Airways climbed 5.69 per cent to Rs 211.70 while Kingfisher Airlines zoomed 9.6 per cent to Rs 39.40 on the BSE.
Jet Airways and Kingfisher Airlines, and also their low-cost subsidiaries, Jet Lite and Kingfisher Red on Monday hiked fuel surcharge on domestic flights by up to Rs 300 per passenger.
The increase in surcharge follows hike in Aviation Turbine Fuel last week. State-run oil companies had on April 15 raised prices of jet fuel for the third time in a month, by about 6.7 per cent.
Consequently, Jet and Kingfisher announced an identical hike of Rs 200 for sectors below 750 km and Rs 300 for over 750 km, which would also be applicable on flights of their budget carriers JetLite and Kingfisher Red.
At 11:30 am, shares of Jet Airways climbed 5.69 per cent to Rs 211.70 while Kingfisher Airlines zoomed 9.6 per cent to Rs 39.40 on the BSE.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
