Airline stocks surge on jet fuel price cut

Reuters Updated - January 19, 2018 at 01:37 PM.

Airline stocks today surged on jet fuel price cut.

SpiceJet Ltd gained as much as 14.2 per cent, Jet Airways Ltd was up 8.6 per cent, and InterGlobe Aviation Ltd jumped 11.5 per cent.

Oil companies had cut the aviation turbine fuel (ATF) prices by 10 per cent on Thursday on account of low crude oil prices globally.

Jet fuel is the biggest cost for airlines, particularly low-cost carriers.

Crude oil prices had fallen 35 per cent in 2015 due to a massive supply glut ($1 = 66.4225 Indian rupees).

Published on January 1, 2016 07:12