Aviation stocks mixed as oil tops $76 per barrel

INSUBCONTINENT EXCLUSIVE:
Aviation scrips such as Jet Airways, SpiceJet and IndiGo moved sideways this morning after oil prices shot up in response to the US move to
abandon the Iran nuclear accord
On Wednesday, Brent crude futures for July series soared 2.5 per cent to $76.73 a barrel -- the highest since November 2014. InterGlobe
Aviation, which runs IndiGo, and Jet Airways lost 2 per cent at Rs 1,173 and Rs 501.65, respectively, at around 10 am
with increase in crude prices is a double whammy for aviation companies
The revenue per available seat kilometres is also showing some signs of stress because of competition and pricing pressure
RASK or revenue for available seat kilometre is probably looking constrained at this point of time." He told ET Now: "With crude staying at
elevated levels, aviation stocks might also enter a phase of time correction like the OMC pack
piece of advice: Like oil marketing companies one really needs to wait for declines in aviation stocks for better entry points. There are
more headwinds
The rupee plunged 37 paise to 67.45 against the dollar early on Wednesday following surging demand for the greenback amid foreign capital
outflows.