As India's airline stocks rise as the government allows full flight capacity, they will soar as Indian airline numbers rise
BENGALURU, Oct 13, Shares of Indian airline operators jumped on Wednesday after the country's civil aviation ministry allowed domestic flights to fly at full capacity from Oct. 18, lifting pandemic-led restrictions ahead of the festive season.
InterGlobe Aviation (INGL.NS), which runs India's largest airline IndiGo, and SpiceJet Ltd (SPJT.N) rose as much as 4.8% and 5.9%, respectively, to their highest levels since mid-September.
India's aviation sector has been among the worst affected by the COVID-19 epidemic, with airlines losing billions of dollars since operations were halted or restricted since 2020.
India has started easing travel restrictions in recent months, with COVID-19 cases falling and vaccination rates rising.
In August, passenger numbers rose 136.6% from a year earlier, according to regulatory data, following the government's relaxation of some restrictions.
IndiGo's shares have increased about 18.3% for the year as of last close, while SpiceJet'' stock has fallen about 21% during the same period.