Hazy weather

With airline stocks reeling under rising crude and falling rupee, it could just be a long-term opportunity

Soumik Kar

At the beginning of 2018 — one of India’s biggest airlines — Jet Airways, was flying high. Despite a drop in yield and crude price moving up, investors were bullish with the stock hitting a 52-week high at Rs.884 on January 5. With passenger traffic growth on the rise, stocks of other listed players like IndiGo and SpiceJet were trading at Rs.1,202 and Rs.146 as of January 1 this year compared to Rs.824 and Rs.59 on January 1, 2017.