Shares of InterGlobe Aviation, SpiceJet and Jet Airways surged up to 8 percent on the BSE in intra-day trade on Wednesday after the government announced the resumption of international flights from March 27, 2022.

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The move is intended to improve international capacity while also lowering airfares, which have been rising owing to increased demand and higher crude oil prices.

At 11:30 am, InterGlobe Aviation, the parent firm of low-cost carrier IndiGo, was trading higher by 7 percent or 112.20 points at Rs 1,712.25 while SpiceJet was trading at Rs 59.70, up 2.70 points or 4.74 percent. Jet Airways gained 4.97 percent, or up 4.45 points at Rs 93.90.

The Civil Aviation Ministry on March 8 said that regular international flight operations will resume from March 27.

"After having recognized 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. The suspension of scheduled commercial international passenger services to/from India, thus, stands extended only upto 2359 hrs IST on 26.03.2022 and air bubble arrangements shall accordingly be extended to this extent only," the ministry said in a statement.

The ministry further added that international operations shall be subject to strict adherence to Ministry of Health guidelines for international travel.

India currently has air transport bubbles with 40 countries including Canada, France, Germany, United Arab Emirates, the United Kingdom, and the US.

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First Published:Mar 9, 2022 12:07 PM IST