New Delhi: With the cabinet's approval of 49% Foreign Direct Investment ( FDI) and fuel prices cooling off, the aviation sector is showed signs of revival.
With SpiceJet recording profits of Rs 102 crore in the quarter ended December, foreign institutional investors (FIIs) increased their stakes whereas FII stake in Jet airways has stabalized. Stakes of domestic institutional investors (DIIs), including mutual funds and insurance increased by a%age point in both the listed carriers.
Mumbai-based Jet Airways, India’s second largest carrier in terms of the number of passengers, saw the stake of FIIs dip slightly from 4.81% in the quarter ended September to 4.27% in the quarter ended December. The stake of FIIs in Sun Group-owned SpiceJet rose from 2.86% to 5.22%.
However, in the corresponding period last year, the stake of FIIs in SpiceJet was 3.81%. In past one year, there were three rounds of fund infusion in SpiceJet by its promoters of around Rs 419 crore.In Jet airways, the stake of FIIs was 5.42%.
29/01/13 Disha Kanwar/Business Standard
