The shares of domestic airlines SpiceJet and IndiGo’s parent InterGlobe Aviation Ltd were trading mixed on Wednesday following a hike in the price of jet fuel.

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Aviation turbine fuel (ATF) or jet fuel prices have been increased 5.2 percent to Rs 90,519.79 per kilolitre in Delhi, according to Indian Oil Corporation’s website. The aviation fuel will cost Rs 94,888.70 in Kolkata, Rs 88,987.20 in Mumbai, and Rs 93,371.18 in Chennai.

This implies flying in India may soon get more expensive as ATF prices hit a new record high. The prices have been hiked the second time this month. ATF prices were increased 8.5 percent to Rs 86,038.16 per kl in Delhi, at the start of this month. That was the highest ever price touched by ATF in India, before the second fortnightly hike today.

Meanwhile, globally, oil prices steadied after retreating more than 3 percent in the previous session as investors gauged the impact of easing Russia-Ukraine tension against a taut balance between tight global supplies and recovering fuel demand.

The InterGlobe Aviation (IndiGo) stock slipped 1.6 percent from its previous close to an intraday low of Rs 2,153.85. At 12:15 pm, the stock of India’s largest airline was trading 0.65 lower at Rs 2176.30 on BSE and was down 0.58 percent at Rs 2,177.90 on NSE.

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SpiceJet shares, however, were in the green territory. The low-cost carrier’s shares jumped 3 percent to an intraday day of Rs 66.10. The shares were trading 1.02 percent higher on both BSE and NSE at Rs 64.65.

The upward movement in the SpiceJet stock also comes a day after the airline reported its financial results for the December quarter. SpiceJet reported a consolidated profit of Rs 42.45 crore in the third quarter of the fiscal on the back of higher revenues from passenger and cargo segments. It is set to expand its aircraft fleet as well as freighter capacity.

(With inputs from Reuters)

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