Aviation stocks in focus as govt allows domestic carriers to operate at 85% capacity

#Buzzing Stocks

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Aviation stocks are in focus on September 20 after the government allowed domestic carriers to operate flights at 85 percent of pre-Covid levels.

The Ministry of Civil Aviation in a circular issued on September 18 said that the domestic carriers can now operate flights at 85 percent of pre-Covid levels, up from 72.5 percent at present.

The flight capacity, which was curtailed following the onset of the coronavirus pandemic, was increased to 80 percent in December last year. However, it was reduced again, and brought down to 50 percent on June 1, due to the second wave of COVID-19.

On July 5, the capacity was increased to 65 percent and was further raised to 72.5 percent on August 12. The fresh circular marks the third consecutive upward revision.

The government has been reviewing the cap on domestic flight operations after taking the demand into consideration.

The aviation ministry has also revised the timeline for fare bands on airline ticket prices, with the bands to now be rolled over in 15 days instead of 30 days at present.

At 09:20 hrs, SpiceJet was quoting at Rs 80.35, up Rs 1.80, or 2.29 percent and Jet Airways was quoting at Rs 106.45, up Rs 5.05, or 4.98 percent, while Interglobe Aviation was quoting at Rs 2,185.10, down Rs 12.30, or 0.56 percent on the BSE.

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