Shares of aviation majors such as InterGlobe Aviation, SpiceJet and Jet Airways were trading higher in the morning deals on Monday after reports that domestic air passenger traffic jumped by nearly 26 per cent in July, registering double-digit growth for the 24th consecutive month with lower fares attracting more fliers. Domestic airlines traffic stood at 85.08 lakh passengers in July against 67.62 lakh passengers recorded in the same month last year.
Indigo continued to dominate and carried more than 33.84 lakh passengers in July. Market share of the airline company also increased by more than 5.01 per centage point in July as compared to the previous month. Cheering the news, shares of InterGlobe Aviation jumped as much as 2.11 per cent in morning trade. At 11.23 am, shares of the InterGlobe Aviation were trading 1.65 per cent up at Rs 894.75. The scrip opened the day at Rs 885 and has touched a high and low of Rs 898.90 and Rs 881.15, respectively, in trade so far. Benchmark BSE Sensex was trading 102.79 points, or 0.37 per cent, down at 27,975.52.
[related-post]
SpiceJet shares gained as much as 2.55 per cent in morning trade on Monday. The scrip opened the day at Rs 59.330 and has touched a high and low of Rs 60.20 and Rs 58.65, respectively, in trade. The airline has been recording the highest passenger load factor (PLF) for 15 consecutive months which stood at 92 per cent in July.
Jet Airways shares were trading 2.68 per cent higher at Rs 552.10 at 11.28 am. Shares of the company opened the day at Rs 540 and has touched a high and low of Rs 554.90 and Rs 540, respectively, in trade so far.