Aviation stocks in demand; InterGlobe Aviation zooms 11 pc

Aviation stocks were in demand on Friday, with InterGlobe Aviation jumping 11 per cent, as around 67.01 lakh domestic passengers travelled by air in August, 33.83 per cent higher than those who travelled in July.

Shares of InterGlobe Aviation zoomed 11.02 per cent, Jet Airways rose by 4.97 per cent and SpiceJet gained 3.42 per cent on the BSE.

Around 67.01 lakh domestic passengers travelled by air in August, 33.83 per cent higher than 50.07 lakh who travelled in July, the country's aviation regulator said on Thursday.

According to the Directorate General of Civil Aviation (DGCA), 31.13 lakh people, 21.15 lakh people and 57.25 lakh had travelled within the country by air in June, May and April, respectively.

The sudden drop in domestic air traffic in May was due to the second wave of the COVID-19 pandemic that had badly hit the country and its aviation sector.

While IndiGo carried 38.16 lakh passengers in August, a 57 per cent share of the domestic market, SpiceJet flew 5.84 lakh passengers, accounting for an 8.7 per cent share of the market, according to the data shared by the DGCA.