Shares of airline companies gain on jet fuel price cut

Stocks of airline companies gained at the domestic bourses on Wednesday after state-run oil marketing companies cut jet fuel prices.

According to analysts, fuel constitutes one-third of operational costs of airlines and thus, a price cut at the beginning of the holidays could help improve the carriers' margins.

Jet Airways shares were trading 1.4 per cent higher and stocks of SpiceJet rose 0.9 per cent.

(Reuters)