Aviation plans hit air pocket

Mumbai: Expansion plans of domestic airlines may hit an air pocket with the downturn in the capital market. The market mayhem has taken its toll on airline stocks, among others. The Jet Airways stock today closed at Rs 630 — 44.60 per cent lower than its close of Rs 911 on May 18. SpiceJet lost 88 per cent at close — from Rs 68.30 on May 18 to Rs 36.20 today.
Deccan Aviation, the company that runs Air Deccan, today closed at Rs 85.40, registering a 13.61 per cent decline against yesterday’s close of Rs 98.85. It was listed yesterday. The issue price was Rs 148.
SpiceJet executives said the airline had no immediate plans to hit the capital market for aircraft acquisition. Earlier, SpiceJet had raised $80 million through FCCB.
14/06/06 P R Sanjai/Business Standard

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