The move to allow flights comes after the government permitted resumption of passenger train services from May 12. Both rail and flight services have been suspended in India since March 25
The benchmark S&P BSE Sensex tumbled over 1,069 points or 3.44 per cent but managed to close above the crucial 30,000-mark at 30,028.98 levels
Commercial passenger flights and airport operations are suspended since the nationwide lockdown was imposed on March 24, causing crores in losses
Aviation minister Hardeep Singh Puri said in a tweet on Sunday that airline services shall remain suspended even after the lockdown is lifted on May 3.
The move is part of the nationwide lockdown that the government has imposed to stem the spread of coronavirus. India had banned international flights for a week on March 20.
Analysts remain cautious on, both, SpiceJet and IndiGo due to weak fundamentals and advise investors to avoid the stock. The coronavirus outbreak, they say, adds to the concerns.
Street has upgraded earnings on the back of rising fares, stable rupee and higher market share
InterGlobe Aviation hit a high of Rs 789, up 5.7 per cent during the session.
Sharp price hikes unlikely given the impact on passenger growth, loads
Cost pressures in competitive environment continue to take a toll on profitability
Increase in crude oil prices could put pressure on growth
Lower crude prices benefit firms as jet fuel constitutes over 40% of airline's operating costs
Sisodia said the decision to cut the VAT on ATF will benefit people from the North East
Aviation Turbine Fuel prices were hiked by over 9% from June 01, 2016