Live
- Nizamabad MP Dharmapuri Arvind and Jagtial MLA Dr. Sanjay Kumar Meet CM Revanth Reddy
- Hyderabad CP CV Anand Issues Stern Warning to Bouncers
- MP Laxman Criticizes Police Conduct, Calls for Support for Victims' Families
- Fire Breaks Out in Kachiguda-Chennai Egmore Express, Passengers Evacuated Safely
- CM Revanth Reddy Condemns Attacks on Film Personalities' Homes, Calls for Strict Action
- Victory Venkatesh and Nandamuri Balakrishna to Set Screens on Fire with Unstoppable Season 4
- Over 71.81 crore Ayushman Bharat Health Account numbers generated: Centre
- In special gesture, Kuwait's Prime Minister sees-off PM Modi at airport after conclusion of historic visit
- Veer crowned PGTI Ranking champion, Shaurya wins emerging player honour
- Sr National Badminton: Unseeded Rounak Chauhan, Adarshini Shri reach singles semis
Parliamentary panel's proposal on airfare regulation sends IndiGo and SpiceJet shares tumbling
The stock prices of two major Indian airlines, IndiGo and SpiceJet, on Friday experienced a significant decline following the recommendation by a parliamentary panel to implement route-specific capping of airfare
New Delhi: The stock prices of two major Indian airlines, IndiGo and SpiceJet, on Friday experienced a significant decline following the recommendation by a parliamentary panel to implement route-specific capping of airfare.
The proposal also included the establishment of a distinct regulatory body to oversee and manage air ticket prices, responding to mounting customer grievances regarding escalating airfares.
The parliamentary panel expressed dissatisfaction with the current self-regulation efforts by airlines, citing the inadequate response from the civil aviation ministry on the issue of airfare regulation.
The report, presented by the Parliamentary Standing Committee on Transport, Tourism, and Culture, scrutinised the government's actions regarding its recommendations on airfare fixing.
As the news broke, market reaction was swift and by 2 p.m., shares of InterGlobe Aviation, the parent company of IndiGo, were down by 0.83 per cent, trading at Rs 3,104.15 on the Bombay Stock Exchange (BSE).
Similarly, SpiceJet witnessed a notable decline of over 3.87 per cent, with its shares priced at Rs 67.20 on the BSE.
