Airline stocks trade firm post February domestic passenger traffic data

A domestic SpiceJet aircraft is seen off the runway after it skidded off into the unpaved surface during heavy rains in Mumbai.
Shares of airline companies such as SpiceJet, InterGlobe Aviation (IndiGo) and Jet Airways (India) gained by upto 2% on the BSE after the domestic air passenger traffic recorded 24.14% year on year surge at 10.7 million in February 2018.

The domestic air passenger traffic was at 8.6 million in the corresponding month of 2017, according to data furnished by the Directorate General of Civil Aviation (DGCA).

The passenger load factor in the month of February 2018 has shown increasing trend compared to previous month primarily due to the ongoing tourist season, the DGCA said in its monthly domestic traffic report.

Passengers carried by domestic airlines during January-February 2018 were 22.21 million as against 18.23 million during the corresponding period of previous year thereby registering a growth of 21.80 %, it added.

Among the individual stocks, Jet Airways was up 2.2% at Rs 689, while SpiceJet too gained 2.2% at Rs 139 and IndiGo up 1% at Rs 1,231 on the BSE. The S&P BSE Sensex was up 0.29% at 33,208 points at 10:48 am.

In past one month, these stocks underperformed the market by falling in the range of 3% to 9% against 2% decline in the benchmark index.

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