India's SpiceJet, IndiGo gain after aviation fuel price cut

Spicejet

01/01/2024 04:24

** Indian carriers SpiceJet  SPJT.BO  and IndiGo parent
Interglobe Aviation  INGL.NS  both up about 1.7%
    ** Aviation fuel prices cut ~4% to 101,993.17
rupees/kilolitre - Indian Oil website
    ** State-owned oil marketing firms like Indian Oil  IOC.NS 
revise aviation fuel prices at the beginning of each month
    ** Fuel costs form 30-40% of total expenses for INGL, SPJT
    ** INGL in 2023 rose 48%, while SPJT snapped a three-year
losing run

 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))