Jet Airways flies higher on hiking fuel surcharge on flight tickets

02 Apr 2013

Jet Airways (India) is currently trading at Rs 545.00, up by 5.80 points or 1.08 % from its previous closing of Rs 539.20 on the BSE.

The scrip opened at Rs 539.95 and has touched a high and low of Rs 549.00 and Rs 531.10 respectively. So far 323534 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 688.30 on 28-Jan-2013 and a 52 week low of Rs 275.10 on 16-May-2012.

Last one week high and low of the scrip stood at Rs 553.90 and Rs 509.00 respectively. The current market cap of the company is Rs. 4703.05 crore.

The promoters holding in the company stood at 80.00% while Institutions and Non-Institutions held 11.53% and 8.47% respectively.

Domestic air travel is set to be pricey yet again as both state-run Air India and private carrier Jet Airways have hiked fuel surcharge on flight tickets. The fuel surcharge has been revised upwards by Rs 150 for travel above 1,000 km and Rs 100 for travel up to 1,000 km. The new prices will be effective from second fortnight of this month. Further, no frill carrier Indigo may too take a call on this issue shortly.

Fuel surcharge, which came in to force since the global meltdown in 2008, help airlines cut short part of their operations costs in which fuel bills contribute the most.

Jet Airways, including its subsidiary Jet Konnect, currently operates a fleet of 16 ATR 72-500 and 1 ATR 72-600 aircraft, and will introduce an additional 4 new ATR 72-600 aircraft into its fleet. The airline has been operating ATR aircraft since 1999 and has covered its fleet with GMAs since the beginning of its partnership with ATR.

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