SpiceJet shares surged up to 8 per cent while InterGlobe Aviation, parent of IndiGo, also gained on the expectation of higher yield due to the capacity reduction of Jet Airways.
India’s first private airline Jet Airways is headed towards a total grounding and a decision could be taken as early as Tuesday after a meeting of its board of directors, Business Standard reported.
According to media reports, SpiceJet and IndiGo will add close to 50 aircraft over the next few months to fill up the capacity shortage caused by the crisis in Jet Airways as well as the grounding of Boeing 737 Max planes.
