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Jet Airways shares surged on Tuesday in early trade.
At 10.05 am, Jet Airways shares were up 4.78 per cent or Rs 19.25 at Rs 421.90 on the BSE.
Shares are up 64.8 per cent since November 25, as of Monday's close.
Crude oil prices are down 4 per cent at a five-year low on oversupply worries.
Every $1/bbl fall in crude can boost company's FY16 operating profit estimate by 4-5 per cent, according to analysts. Weakness at rivals will also boost sales, say traders. SpiceJet has cut fleet size to save costs.
SpiceJet shares too were up 5.90 per cent or Rs 0.90 at Rs 16.15 on the BSE.
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