Shares of top airline IndiGo's parent InterGlobe Aviation Ltd rose as much as 2.3% to 2084.6 rupees while smaller rival SpiceJet Ltd jumped as much as 7% to 47.9 rupees
On Thursday, the Ministry of Civil Aviation hiked the airfare price band on flights with 90 to 120 minutes of duration to Rs 3,900, up from Rs 3,500 earlier
The bench said that in the present situation of the Covid-19 pandemic, the exercise of this power by the government 'cannot be said to be arbitrary or unreasonable'
The government should focus on improving infrastructure , making it easy for new supply to be created, and laying down parameters for minimum safety standards, instead of fixing prices