Indigo, SpiceJet stocks soar high as International flight resumes back

The central government has announced that after a span of two years of Covid restrictions, it has lifted the ban on all International flights. This news brought a sense of relief to the airline companies as now they will be able to operate flights at their full capacity. International Flights will be fully restored by March 27th. Civil Aviation Ministry in its statement said: “After having recognised the increased vaccination coverage across the globe and in consultation with the stakeholders, the Government of India has decided to resume scheduled commercial international passenger services to/from India from 27.03.2022, i.e. start of Summer Schedule 2022." This news also brought hope for the Tourism Sector. Shares of India’s biggest airline company- Indigo and other publicly listed company SpiceJet surges by more than 5% as this news surfaced in the media. Aloke Bajpai, co-founder and group CEO of ixigo after this announcement said: "This is great news for all travelers and the industry, especially before the peak summer season. The demand for international travel is picking up in India and there has been a significant uptick in travel search queries for popular international destinations like Australia, Sri Lanka, US & UK. Travel search queries from India for Australian cities like Melbourne, Adelaide, and Sydney have jumped 15-20% this month. We are seeing a trend of travelers now eager to book long-haul destinations, fuelled by international borders reopening and relaxation of rules across the globe. Resumption of international commercial flights will also regularise the demand-supply balance resulting in lower international airfares.”