Money on the markets

A maturing market amid the mayhem

Airline stocks face the heat


Airline stocks failed to bring cheer to the market on Monday after the Federation of Indian Airlines (FIA) called off plans for a one-day strike later this month.SPICEJET/INVESTMENT

Private airline operators had on Friday announced they would suspend operations on August 18 to protest the lack of government relief for the ailing industry.

India’s airlines suffered a cumulative $2 billion of losses in 2008/09 on high operating costs and a fall in demand amid a global slowdown.

Shares in Kingfisher dropped 2.3 percent, Spicejet ended down 1.3 percent while Jet Airways fell 2.37 percent.