Aviation stocks rally as domestic passenger flights to resume from Monday

Aviation stocks on Thursday rallied, with InterGlobe Aviation rising over 7 per cent at close of trade, after the government announced that domestic passenger flight services will resume from May 25 in a calibrated manner. InterGlobe Aviation shares zoomed 7.28 per cent to close at Rs 978.25 on the BSE. During the day, it advanced 12.84 per cent to Rs 1,029.

SpiceJet also jumped 4.88 per cent to Rs 42.95 -- its upper circuit limit. Domestic passenger flight services will resume from May 25 in a calibrated manner, Civil Aviation Minister Hardeep Singh Puri said on Wednesday.

All scheduled commercial passenger flights have been suspended in India since March 25, when the government imposed a lockdown to curb the spread of the novel coronavirus. "Domestic civil aviation operations will recommence in a calibrated manner from Monday, May 25, 2020. All airports and air carriers are being informed to be ready for operations from 25th May," Puri said on Twitter.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)