Aviation stocks rise post interim budget
1 min read • Updated: February 1, 2024, 11:24 PM
Higher passenger traffic and growth in fleet size has prompted more investment in aviation sector
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.