Airline stocks were gaining on Thursday as the Ministry of Civil Aviation has allowed domestic flights to operate with up to 70 percent capacity on the back of increasing demand during the festive season.
The share price of InterGlobe Aviation hit a 52-week high rising up to 1.5 percent to Rs 1,644.90 per share on the NSE while SpiceJet share price surged as much as 5.5 percent to Rs 57.10 apiece on the BSE.
At 12:42 pm, IndiGo shares were trading higher by 0.61 percent at Rs 1,629.45 while SpiceJet was trading 3.89 percent higher at Rs 56.10 per share.
A total of 2.06 lakh passengers have used the domestic air services since flight operations resumed, said Union Civil Aviation Minister Hardeep Singh Puri.
The Ministry of Civil Aviation had introduced the earlier cap of 60 percent on September 2. On November 11, it said that "60 percent capacity may be read as 70 percent capacity".
This order modifies the earlier notification, which had been made effective by the ministry up till February 24, 2021.
While the capacity of the airlines has been enhanced, all the rules put in place by previous orders will continue, it added.
The MoCA had also released guidelines on who can travel out of or into India under the repatriation and travel bubble flights on their website.
