Three aviation shares rose by between 3.04% to 4.73% on BSE after state-run oil marketing companies with effect from midnight, 31 January 2012, slashed jet fuel prices by over 3% as an appreciating rupee made imports cheaper.
At 1.07 pm SpiceJet up by 4.73%, Jet Airways (India) up by 3.84% and Kingfisher Airlines up by 3.04%.
The price of jet fuel in Delhi was cut by Rs1,974 per kilolitre (kl), or 3.02%, to Rs62,908 per kl with effect from midnight, January 31, 2012.
Jet fuel, or aviation turbine fuel ( ATF) makes up for 50% of an airlines' operating cost and the cut in prices will ease burden on the cash-strapped airlines.
The three public sector oil marketing companies (PSU OMCs) BPCL, HPCL and Indian Oil Corporation revise jet fuel prices on the 1st and 16th of every month, based on the average international price in the preceding fortnight.
....more info
At 1.07 pm SpiceJet up by 4.73%, Jet Airways (India) up by 3.84% and Kingfisher Airlines up by 3.04%.
The price of jet fuel in Delhi was cut by Rs1,974 per kilolitre (kl), or 3.02%, to Rs62,908 per kl with effect from midnight, January 31, 2012.
Jet fuel, or aviation turbine fuel ( ATF) makes up for 50% of an airlines' operating cost and the cut in prices will ease burden on the cash-strapped airlines.
The three public sector oil marketing companies (PSU OMCs) BPCL, HPCL and Indian Oil Corporation revise jet fuel prices on the 1st and 16th of every month, based on the average international price in the preceding fortnight.
....more info