Aviation stocks spiked on the BSE on Thursday morning after the government said on Wednesday that domestic airlines will resume operations from May 25, in a calibrated manner, after a gap of more than two months. Commercial flights have been suspended since March 25 as part of the nationwide lockdown to curb the spread of Covid-19; only cargo flights and special evacuation flights were permitted during the period.
InterGlobe Aviation, which operates flights under the IndiGo brand, soared to an intra-day high of Rs 1,029 before ending the session at Rs 980, up Rs 68 or 7.5 per cent, and Spicejet ended at the upper circuit of 5 per cent at Rs 42.95 on the BSE.
The government has intimated all airports and airline companies to gear up for starting their operations from the scheduled date and standard operation procedures would be announced shortly, Civil Aviation Minister Hardeep Singh Puri said on Wednesday.
Amid talk of a a new normal, post the commencement of flights, Mr Puri made it clear that it would not be possible to keep the middle seat vacant as such a measure will not help in maintaining social distancing norms and will only lead to a 33 per cent jump in fares across sectors.
The BSE Sensex ended the day with gains of 0.3 per cent at 30,933 and and NSE Nifty added 0.4 per cent at 9,106.