Within minutes, IndiGo’s shares nearly halve their losses since March-end after India allows local flights to resume from May 25— SpiceJet soars too
- The shares of India’s largest airline, IndiGo, were down nearly 15% since March but the stock recovered nearly half of the fall on May 21.
- The shares of SpiceJet climbed over 5% hitting the upper circuit set by the stock exchanges.
- Union civil aviation minister Hardeep Singh Puri announced that the domestic flights' operations will resume from May 25.
The stellar rally in airline stocks was triggered by the Indian government’s decision to resume domestic flights from May 25
Yesterday Union civil aviation minister Hardeep Singh Puri announced that the domestic flights' operations will resume from May 25 in a calibrated manner and all airports and airlines are being informed to prepare for the resumption.
Domestic civil aviation operations will recommence in a calibrated manner from Monday 25th May 2020.All airports… https://t.co/xm9YjtMtXz— Hardeep Singh Puri (@HardeepSPuri) 1589974072000
SEE ALSO: India allows domestic flights to resume from May 25 after a long halt
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