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Airline shares surged after the Government unveiled its draft national aviation policy.
The policy pitches for raising FDI in airlines to over 50 per cent from the current 49 per cent. It also proposes zero service tax on output services of maintenance, repair and overhaul operations.
The policy also suggests capping fares at Rs 2,500 for a one hour flight under regional connectivity scheme. An additional levy of 2 per cent has been proposed on all domestic and international tickets to pay for the regional connectivity boost.
Jet Airways shares were trading up 4.33 per cent or Rs 17.30 at Rs 416.70 on the BSE at 1.50 pm. Similarly, SpiceJet soared 4.87 per cent or Rs 2.10 to trade at Rs 45.20.
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