Aviation Stocks Soar After IOC Slashes ATF Prices by 4%
Mumbai   09-Apr-2014

Aviation stocks soared on the BSE on Tuesday after ATF prices were cut by 4% by IndianOil, the nations largest fuel retailer. Jet Airways shares ended 14.14% higher on the BSE at.278.85 a share, while SpiceJet rose 19.19% to.17.27 a share despite the DGCA blocking its.1 discount offer. Rashesh Shah, an aviation analyst with ICICI Direct, said the rally in airline stocks was driven mainly by the ATF price cut.ATF constitutes over 40% of an airlines operating costs and any price cut will help reduce expenses for an airline.