Shares of SpiceJet Ltd. surged 1.45% to ₹56.60 in early trading on November 19, 2024, following news of India’s domestic air passenger traffic crossing 500,000 in a single day for the first time. This milestone underscores robust demand in the aviation sector, driven by the festive and wedding seasons.
Key Drivers:
- Historic Milestone: On November 17, 2024, India’s domestic aviation sector recorded 505,412 passengers on 3,173 flights, marking the first time daily passenger traffic exceeded 500,000.
- Sector-wide Growth: This record follows a steady two-week increase in daily passenger numbers, reflecting strong consumer demand for air travel post-Diwali.
- Positive Market Sentiment: The aviation industry’s strong recovery and passenger growth momentum have lifted investor confidence in airline stocks, including SpiceJet.
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