European airline stocks are accompanying their Indian aviation peers, with IndiGo and SpiceJet shares being down up to 4%
Brent crude prices hit a three month high amid expectations that recent US sanctions on Russian oil producers will disrupt Russian crude supplies to major importers--China and India.
Indigo market share dropped from the peak of 63.4 percent in September 2023 to 60.2 percent in January 2024
There are many challenges that the industry is facing. Airline companies are reeling under high operating costs because of increasing crude oil prices, depreciating rupee and low airfares.
When it comes to investing in airline stocks, resist till Air India persists, unless price becomes very compelling. We are not at that point yet, as one would guess, says ArunaGiri N of TrustLine Holdings.
Civil Aviation Minister Ashok Gajapathi Raju said the policy is a "game changer" and that the country's aviation sector is poised to become the world's third largest by 2022.
Airline stocks have been caught in bull grip since yesterday as CNBC-TV18 reported quoting sources that the cabinet committee of economic affairs (CCEA) will consider hike in FDI in the aviation sector on Friday.
Airline stocks drop on media reports state-owned oil companies have raised aviation turbine fuel prices by about 1.7% on account of higher crude prices.
SP Tulsian of sptulsian.com tells CNBC-TV18, on the eve of Jet Airways announcing results, that airline stocks such as Jet and SpiceJet are good bets thanks to rivals Kingfisher and Air India initiating reduction in operations and no adverse event occurring in the sector for the time-being