Aviation stocks remained on buyers’ radar on report that domestic air passenger traffic jumped by nearly 26 percent in July, registering double-digit growth for the 24th consecutive month with lower fares attracting more fliers. Local airlines flew 85.08 lakh passengers in July compared to 67.62 lakh fliers recorded in the year-ago period.
Spicejet is currently trading at Rs. 59.50, up by 0.80 points or 1.36% from its previous closing of Rs. 58.70 on the BSE. The scrip opened at Rs. 59.30 and has touched a high and low of Rs. 60.20 and Rs. 58.65 respectively. So far 928055 shares were traded on the counter.
Jet Airways (India) is currently trading at Rs. 545.95, up by 8.25 points or 1.53% from its previous closing of Rs. 537.70 on the BSE. The scrip opened at Rs. 540.00 and has touched a high and low of Rs. 552.95 and Rs. 540.00 respectively. So far 118280 shares were traded on the counter.
InterGlobe Aviation is currently trading at Rs. 885.80, up by 5.55 points or 0.63% from its previous closing of Rs. 880.25 on the BSE. The scrip opened at Rs. 885.00 and has touched a high and low of Rs. 894.80 and Rs. 881.15 respectively. So far 16000 shares were traded on the counter.
This is the 24th straight month that domestic air traffic has registered high double-digit growth, which also comes against the backdrop of many airlines offering lower fares as they compete to attract more passengers. In terms of market share in July, IndiGo is followed by Jet Airways (16.3 per cent), Air India (14.8 per cent), SpiceJet (11.7 per cent), GoAir (8.4 per cent), Vistara (2.6 per cent) and AirAsia (2.2 per cent).
When it comes to load factor -- a measure of seat occupancy in flights -- low-cost carrier SpiceJet emerged on top with 92 per cent in July. The same stood at 93 per cent in June. During July, IndiGo's load factor stood at 83.6 per cent, higher than 77.9 per cent seen in the previous month.
Among other airlines, GoAir registered a load factor of 90.3 per cent, followed by Air Asia with 85.7 per cent while that of Jet Airways and Vistara were 83.8 per cent and 75.2 per cent, respectively. National carrier Air India registered a lower load factor of 80.3 per cent in July compared to 82 per cent in June. Scheduled domestic airlines shelled out compensation to the tune of Rs 35.56 lakh for denied boarding to passengers last month.
| Company Name | CMP |
|---|---|
| Interglobe Aviation | 4522.30 |
| SpiceJet | 14.79 |
| Raymond | 434.60 |
| Global Vectra Helico | 183.80 |
| Taneja Aerospace | 275.65 |
| View more.. | |
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