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Spice, Jet Airways Rally On Fuel Price Cut
Shares in SpiceJet and Jet Airways rallied after oil marketing companies cut jet fuel and also reduced petrol and diesel prices.
Shares in Jet Airways were trading higher by one per cent at Rs 492.20, while shares in SpiceJet were trading higher by one per cent at Rs 24 on the BSE.
In the last few years, the airline industry has been affected by high jet fuel, which forms the largest cost of an airline. However, falling prices of crude have ensured that oil marketing companies cut aviation turbine fuel.
This is likely to provide some boost to the earnings of listed airlines in the country, which at the moment is just restricted to Jet Airways and SpiceJet.
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