|Subject||Airline stocks gain on ATF price cut|
Airline stocks continued gains in early trade on Friday on news of cut in aviation turbine fuel rates.
Jet Airways surged as much as 5.63 per cent and SpiceJet added 2.49 per cent after media reports that oil marketing companies had cut jet fuel prices by 12.5 per cent.
Fuel accounts for one-third of the operational cost of an airline, and any price cut will help improve margins, said an analyst.
Source : economictimes.indiatimes.com
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