Thursday, June 22, 2006

Airline stocks fly higher as Jet-Sahara deal develops hiccups

Mumbai: Airline stocks were seen soaring high again today fuelled by reports that merger plan of Jet Airways and Air Sahara was about to fall apart, even as market analysts said failure of the deal would benefit Jet.
Market analysts, who have been maintaining that the deal was overvalued, said today that it would be a blessing in disguise for not only Jet Airways but also other aviation stocks if the planned deal comes apart or jet manages to lower the acquisition price for Air Sahara.
An across-the-board buying interest was seen on the airline counters today, as further reports flowed in about the Jet-Sahara deal hitting yet another roadblock.
Newly listed Deccan Aviation also got a fresh lease of life today after making a disappointing debut earlier this month.
Other three listed airline companies -- Jet Airways, SpiceJet and Jagson Airlines -- also gained significant ground.
21/06/06 Zee News