March 22, 2019 / 4:39 AM / 4 months ago

BUZZ-India's SpiceJet rises after higher Feb passenger data

** Shares of low-cost carrier SpiceJet Ltd surged as much as 14.2 pct to highest since July 30

** Domestic airlines' passenger traffic rose 5.62 pct in Feb from Jan, data from the Directorate General of Civil Aviation showed

** Passenger load factor for SpiceJet rose to 94 pct in Feb from 90.9 pct in Jan, while InterGlobe Aviation Ltd-owned IndiGo’s load factor rose 88.4 pct vs 86.4 pct in Jan

** Load factor for cash-strapped Jet Airways Ltd rose to 89.4 pct from 86.1 pct

** A combination of supply disruption across key airline operators and increasing fares (anecdotal) resulted in one of the weakest air traffic growth prints over the past few years, Citi analysts say in a note

** Passenger traffic growth slowest in five years due to increased fares. In recent months, industry capacity growth has slowed down significantly, driven by temporary problems with Pratt & Whitney, shortage of pilots, grounding of Boeing 737 Max and liquidity problem at Jet Airways - HSBC Global Research

** “This has raised spot fares significantly which has dented demand” - HSBC

** IndiGo shares up 0.65 pct, Jet up 1.9 pct

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