India's InterGlobe Aviation, Spicejet turn positive after govt approves $1 bln aviation fuel fund

Spicejet

03/06/2026 11:04

** Shares of InterGlobe Aviation INGL.NS, operator of India's IndiGo airline turn positive, hitting a day's high of about 2.13% at 4516.20 rupees
** Stock reverses course after India cabinet approves 100 billion rupees ($1.05 billion) for an aviation fuel price stabilisation fund
** Shares of budget carrier SpiceJet SPJT.BO also turned positive, jumping 4.9% to 12.79 rupees after the news
** Aviation turbine fuel is among the largest operating costs for airlines
** Last month, Indigo said it was considering fuel hedging after rising crude prices squeezed margins and pushed it to a quarterly loss
** YTD INGL down 10.10% while SPJT fell 59.21%

 (Reporting by Surbhi Misra in Bengaluru)
 ((Surbhi.Misra@thomsonreuters.com |  X: https://twitter.com/SurbhiMisra_  |;))