Millennium Post

Aviation stocks soar as Delhi govt cuts tax on ATF

Airline stocks rose by up to 3 per cent today after the Delhi government said VAT on Aviation Turbine Fuel (ATF) will be brought down from 25 per cent to 1 per cent for flights to remote areas such as North Eastern states.

Shares of Jet Airways soared 3.07 per cent, SpiceJet climbed 2.86 per cent while IndiGo's parent company InterGlobe Aviation rose 2.26 per cent on BSE.

Air travel from Delhi to remote areas will be cheaper with the AAP government today announcing slashing of VAT on ATF from existing 25 per cent to 1 per cent to compliment the Centre's regional connectivity scheme (RCS).
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