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The shares of Jet Airways are soaring. Know why

The shares of Jet Airways are soaring. Know why

Jet Airways (India), the nation's second largest private carrier, gained ground in trade today after the company reported a surge in its passenger traffic.

Jet said monthly domestic air passenger traffic data showed the airline's share jumped 63.4% to 13.35 lakh in July 2015 over the same month last year. Jet Lite's domestic air passenger traffic dropped 1% to 2.02 lakh in July 2015 over July 2014.

As a consequence, Jet Airways gained 7.25 rupees, or 1.9 percent, to 382.30 rupees on the National Stock Exchange where 9.9 lakh shares were traded versus the 5-day average of 27.9 lakh shares.

Jet Airway's market capitalisation has gained 53 percent to 4,278 crore rupees in the past one year.

Image credit: Indiatimes

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