SpiceJet, IndiGo shares rally up to 6% after ATF price cut
airline operators Spicejet and InterGlobe Aviation-operated IndiGo surged by 6% and 2.2% respectively on the BSE after the prices of the aviation turbine fuel (ATF) were slashed by 6%.
The shares of SpiceJet went as high as Rs 68.50 while those of IndiGo surged to Rs 4,896.
The ATF prices have been cut to Rs 87,597 per kg in Delhi, down from Rs 93,480 per kg earlier. The price reduction will help ease the burden on airlines for whom fuel makes up 40% of the airlines’ operating costs.
Earlier in the month of September, the prices of ATF were cut by 4.6% or Rs 4,495.5 per kilolitre, to Rs 93,480.22 per kl in the national capital. Prices differ from state to state depending on the incidence of local taxes.
A decrease in ATF prices typically provides relief to the airlines, improving profitability and potentially allowing them to offer more competitive fares.
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