IndiGo, SpiceJet Surge As Domestic Flights Set To Restart Next Week

Stocks of leading Indian airlines surged on Thursday after the Ministry of Civil Aviation informed that domestic flight operations will recommence from 25 May in a phased manner.

Shares of InterGlobe Aviation, the parent of IndiGo airlines jumped 9.9 percent to open at to Rs 1,002 apiece and SpiceJet is locked in a 5 percent upper circuit at Rs 42.85, ending their three-day losing streak.

On Wednesday, Civil Aviation Minister Hardeep Singh Puri in a tweet said, Domestic civil aviation operations will recommence in a calibrated manner from Monday 25th May 2020. All airports & air carriers are being informed to be ready for operations from 25th May. SOPs for passenger movement are also being separately issued by @MoCA_GoI."

More details on the restrictions on operations of flights are awaited. The DGCA (Directorate General of Civil Aviation) will be meeting the Civil Aviation Ministry on Thursday to discuss the plans to resume flight operations.

A PTI report earlier this week said that IndiGo and Vistara have been accepting bookings for June, even before the announcement was made by the ministry.