Jet Airways share prices have soared 80 percent in the past two weeks on the back of continuing trouble for the ailing SpiceJet and a fall in fuel prices.
Investors fleeing SpiceJet shares are taking to Jet Airways on hopes that the recently converted full service airline would benefit from SpiceJet's misery, say market traders, as reported by Economic Times.
SpiceJet share has fallen by 24 percent since 1 December when trouble surfaced for the company.
Lower aviation fuel prices are expected to help Jet Airways improve its margins. The quarter ended September saw aviation fuel cost around 38 percent of revenues.
Singapore Airlines and Tata Sons joint venture Vistara, a full service airline, is scheduled to take to the skies in the coming months.
Analysts warn that Jet Airways is not likely to receive re-rating any sooner, stating the high debt of ₹10,577 crore continues to drag down the airline scrip.
Jet Airways revenue for fiscal stood at ₹17,301 crore with losses record ₹3,667 crore.
The scrip was trading at ₹441.80, up by ₹4.00 (0.91%) at 2:44PM.