Weak rupee drives down aviation stocks

Victoria
By Victoria September 23, 2011 07:31

Weak rupee drives down aviation stocks

Shares of Kingfisher Airlines (down 4.61%), SpiceJet (down 2.77%) and Jet Airways (down 2.76%) declined as a weak rupee heightened concerns about its impact on operating costs of airline companies. A weak rupee impacts the aviation sector as almost a third of operational expenses of aviation firms are denominated in dollars, including lease payments, maintenance, spare parts and salary paid out to foreign crew.

Victoria
By Victoria September 23, 2011 07:31
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