Jet Airways to SpiceJet, aviation stocks tumble up to 5% on ATF import duty hike
Aviation stocks tumbled up to 5 per cent Thursday after the government raised import duty on jet fuel. Shares of Jet Airways tumbled 4.82 per cent, SpiceJet 1.95 per cent and InterGlobe Aviation 1.27 per cent on BSE.
The government has announced an import duty of 5 per cent on aviation turbine fuel (ATF). It was nil earlier. Image source: Reuters