1. Aviation stocks rise post interim budget

Aviation stocks rise post interim budget

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1 min read • Updated: February 1, 2024, 11:24 PM

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Summary

Higher passenger traffic and growth in fleet size has prompted more investment in aviation sector

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aviation stocks rise
  • Shares of the airlines operator, Interglobe Aviation closed 3.5% higher today after FM Nirmala Sitharaman mentioned about significant growth witnessed in the aviation sector.

  • FM said The number of operational airports has doubled to 149, while 517 additional routes connecting tier-2 and tier-3 cities have been established. Due to this significant infrastructure growth, Indian airline operators have proactively ordered more than 1000 new aircraft.

  • Key growth indicators like surge in aircraft fleet size, passenger traffic growth, infrastructure development have prompted investments in modernisation and capacity enhancement projects in the aviation sector.

  • As a result, following the budget conclusion, Interglobe Aviation stock saw strong traction and closed in green.