Aviation stocks jump as India set to resume international flights from March 27; IndiGo surges 8%

Shares of aviation firms rose during the morning trade on Wednesday after the government said India will resume scheduled international commercial flights from March 27, after a two-year hiatus.

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InterGlobe Aviation, the company which operates budget carrier IndiGo, surged 8.02 per cent to Rs 1,727.00 per share on the National Stock Exchange (NSE) while on BSE it rose 7.90 per cent to Rs 1,726.45.

Shares of SpiceJet climbed 6.58 per cent to Rs 60.75 apice on the BSE while on NSE it was up 6.39 per cent to Rs 60.75.

Apart from these, Jet Airways (India) shares too were locked in the upper circuit of 5 per cent on both the bourses. On the BSE it was locked at Rs 93.90 while on NSE it was frozen at Rs 94.70.

After a two-year suspension, India will resume scheduled international commercial flights from March 27, the Ministry of Civil Aviation said on Tuesday. While scheduled international flight services have been suspended since March 2020 due to the pandemic, special flights have been operating between India and 37 countries since July 2020 under air bubble arrangements.

“After having recognised the increased vaccination coverage across the globe and in consultation with the stakeholders, the Government of India has decided to resume scheduled commercial international passenger services to/ from India from 27.03.2022, i.e. start of summer schedule 2022,” the Ministry of Civil Aviation said in an official statement.

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