Money on the markets

A maturing market amid the mayhem

Airline stocks face the heat

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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.

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