Mon. Sep 26th, 2022

BENGALURU: Shares of India’s domestic airlines rose on Thursday, a day after the Civil Aviation Ministry said it will remove restrictions on ticket prices it had imposed two years ago due to the coronavirus pandemic.
Domestic airlines IndiGo, SpiceJet Ltd, Air India, Go First and Vistara, a joint venture between Tata Group and Singapore Airlines, can now freely price tickets.
Shares in major airline IndiGo’s parent InterGlobe Aviation Ltd rose as much as 2.3% to Rs 2,084.6, while smaller rival SpiceJet Ltd rose as much as 7% to Rs 47.9.
The government had imposed a minimum and maximum band based on the duration of the flight to prevent ticket prices from skyrocketing once restrictions on air travel are relaxed.
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