On Thursday, the stock prices of airline companies gained between five to nine percent in the early session of the trade after the government announced the re-opening of airline operations from May 25 in the country. Earlier, the flight operations were suspended from March 25, When the first phase of nationwide lockdown was announced owing to the spread of the Covid-19 pandemic.
Airline companies such as SpiceJet, Indigo (Interglobe Aviation), and Jet Airways have seen a surge in their stocks. At 1.17 IST, the share of SpiceJet was up by 2 points or 5 percent at Rs. 42.85 on the NSE. Whereas at 1.22 IST, Interglobe aviation was quoting at Rs. 979.65, up by 67.75 points or 7.43 percent and Jet Airways was high at Rs. 20.25 with 0.95 points or 4.92 percent.
While the lockdown has been extended with relaxations in some areas till May 31, the flight operations are allowed to resume with one-third of the original schedule. The top officials in the airlines are set to meet with the aviation ministry on May 21 to discuss the new schedule chart of the flights.
Once the schedule chart is finalized, the airline companies are said to resume their bookings. Following the government norms relating to sanitization and social distancing, the passengers are expected to follow certain rules before entering the airport. It will be compulsory to register on Aarogya Setu App, use of masks and gloves, and following social distancing for employees and passengers at all times.
The aviation industry in the last month was most heavily hit because of the lockdown across the globe; thus, the reopening of flights will help the airline companies not to face losses to some extent.
While the market seems to be fairly on the green side, only Nifty Bank faces a low in the trading session on Thursday. At 1.49 IST, Sensex rose by 0.93 percent at 31,106.55. Similarly, Nifty was at 9,152.65 with 86.10 points or 0.95 percent. But at 2.41 IST, Nifty Bank faced a drop with 124.45 points or 0.7 percent at 17715.75.