Airline stocks rose today as crude oil prices fall further.
Jet Airways stock rose as much as 4.6 per cent, InterGlobe Aviation gained as much as 3.46 per cent, and SpiceJet jumped as much as 3.29 per cent.
Jet Airways was the top gainer in BSE 'A' group stocks.
Crude oil prices today fell below $31/barrel, down about 3 per cent.
Jet fuel is the biggest cost for low-budget carriers. It accounts for about 40 per cent of the costs.
Lower crude prices will boost companies’ margins, according to analysts.