SpiceJet shares hit 52-week high as aviation sector gains 2.74%

Shares of SpiceJet zoomed around 20 per cent to hit a fresh 52-week high on Monday i.e. December 18. The counter gained after four days of consecutive falls amid a 2.74 per cent gain in the aviation sector. The scrip, which had closed at Rs 53.58 in the last trading session, opened at Rs 53.66. However, it gained momentum and went on to hit a 52-week high of Rs 64.29 apiece on the BSE.

The gain in stock price came amid reports that SpiceJet is interested in acquiring the bankrupt carrier Go First. 

Meanwhile, the domestic market share of SpiceJet rose to 6.2 per cent in November from 5 per cent in October. Its On-Time Performance (OTP) stood at 41.8 per cent last month.

Also, the aviation sector witnessed a gain of 2.74 per cent today after official data released on Friday stated that domestic air passenger traffic rose 9 per cent to more than 1.27 crore in November.

IndiGo remained the country's largest domestic carrier but its market share declined to 61.8 per cent in November from 62.6 per cent in October.

However, none of the scheduled carriers had an On-Time Performance (OTP) score of more than 80 per cent in November.

Official data released by the Directorate General of Civil Aviation (DGCA) on Friday showed that airlines flew 1.27 crore passengers in November compared to 1.17 crore in the year-ago period.

Air India's domestic market share remained unchanged at 10.5 per cent in November while that of Vistara fell marginally to 9.4 per cent last month.

In November, the share of Akasa Air and AIX Connect remained unchanged at 4.2 per cent and 6.6 per cent, respectively.

As per the data, Akasa Air topped the OTP chart at 78.2 per cent, followed by IndiGo at 77.5 per cent and Vistara at 72.8 per cent.

Air India's OTP was at 62.5 per cent while that of AIX Connect and Alliance Air were at 69.7 per cent and 66.1 per cent, respectively.

On-Time Performance (OTP) of scheduled domestic airlines is computed for four metro airports - Bangalore, Delhi, Hyderabad, and Mumbai.

With agency inputs