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Aviation stocks mixed after MoCA increased domestic flight cap to 70% of pre-COVID level

While the capacity of the airlines has been enhanced, all the rules put in place by previous orders will continue.

November 12, 2020 / 12:58 PM IST
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Aviation stocks were trading mixed on November 12 after the Ministry of Civil Aviation (MoCA) decided to allow domestic airlines to operate up to 70 percent of domestic flights seen in pre-COVID levels as demand for air travel surges during the festival season.

The ministry had introduced the earlier cap of 60 percent on September 2.

The MoCA issued an order on November 11 which said that "60 percent capacity may be read as 70 percent capacity". This order modifies the earlier notification, which had been made effective by the ministry up till February 24, 2021.

This comes after a "review of the current states of Scheduled Domestic Operations viz-a-viz passenger demands for air travel", the order explained.

While the capacity of the airlines has been enhanced, all the rules put in place by previous orders will continue, it added.

Interglobe Aviation touched a 52-week high of Rs 1,650 and quoting at Rs 1,638.25, up Rs 18.75, or 1.16 percent.

SpiceJet was quoting at Rs 56.10, up Rs 2.20, or 4.08 percent and Jet Airways was quoting at Rs 55.60, down Rs 2.90, or 4.96 percent on the BSE.

FM Nirmala Sitharaman's press conference live updates

Moneycontrol News
first published: Nov 12, 2020 12:34 pm

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