Jet Airways, InterGlobe Aviation, SpiceJet shares gain on jet fuel price cut reports

Aviation stocks such as Jet Airways, InterGlobe Aviation and SpiceJet were trading higher in the morning trade on reports about a cut in aviation turbine fuel (ATF) or jet fuel prices.

At 10.16 am, Jet Airways, InterGlobe Aviation and SpiceJet shares were trading 1.92 per cent, 1.57 per cent and 2.19 per cent up at Rs 550.40, Rs 824 and Rs 65.20, respectively. Sensex was trading 136.71 points down at 24,657.

ATF price has been cut by Rs 515.85 per kilo litre effective from Thursday.

Jet fuel account for around 40-50 per cent of the operating costs of aviation companies.