Aviation shares have been in big demand on Wednesday as after a two-year hiatus, India will resume common international flights from March 27. Shares of InterGlobe Aviation zoomed 7.89 per cent to Rs 1,726.45 on the BSE,
SpiceJet additionally jumped 6.57 per cent to Rs 60.75.
After a two-year hiatus, India will resume common worldwide flights from March 27, the Ministry of Civil Aviation (MoCA) mentioned on Tuesday.
India had suspended the scheduled worldwide flights since March 23, 2020, as a result of COVID pandemic.
However, particular worldwide flights have been working between India and 37 nations since July 2020, beneath air bubble preparations.
“After deliberation with stakeholders and keeping in view the decline in the COVID-19 caseload, we have decided to resume international travel from March 27 onwards,” Aviation Minister Jyotiraditya Scindia mentioned, including that “with this step, I am confident the sector will reach new heights”.
Air bubble preparations may also stand revoked thereafter, he mentioned.