FIIs' interest in airlines revives

New Delhi: The aviation sector is upbeat, with Jet Airways and SpiceJet recording profits in the quarter ended June and foreign institutional investors (FIIs) increasing their stakes in all the three listed carriers — Jet Airways, Kingfisher Airlines and SpiceJet.
Stakes of domestic institutional investors, including mutual funds and insurance companies, were almost unchanged.
Mumbai-based Jet Airways, India’s largest carrier in terms of the number of passengers, saw the stake of FIIs rise from 6.7 per cent in the quarter ended March to 7.12 per cent in the quarter ended June. Kingfisher Airlines also recorded a rise in the stake of FIIs, which rose from 0.34 per cent to 0.98 per cent in the same period. The stake of FIIs in Sun Group-owned SpiceJet rose from 2.61 per cent to 3.51 per cent.
04/08/12 Disha Kanwar/Business Standard

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Categories: Foreign Aug 2012, Indian Aviation- In General Aug 2012