Shares of InterGlobe Aviation Ltd., which operates IndiGo, and SpiceJet fell on Wednesday as investors assessed the impact of higher crude oil prices following renewed tensions between the United States and Iran.
The decline came after both Brent crude and West Texas Intermediate crude gained about 5% over the past two trading sessions, raising concerns over higher aviation fuel costs for airlines.
The move in airline stocks comes despite continued growth in India's domestic aviation market. Data released by the Directorate General of Civil Aviation (DGCA) on Tuesday showed domestic airlines carried 1.53 crore passengers in May, up 1.21% from a year earlier despite seasonal fluctuations and higher airfares.
Shares of InterGlobe Aviation fell 1.97% to Rs 5,297.05 on the BSE at around 10 a.m., compared with the previous close of Rs 5,396.45.
ALSO READ: IndiGo Keeps Air Dominance Intact: Market Share, Punctuality Rate Highest In May
The stock had declined about 3% over the past week but remained up about 21.3% over the past month. Over the past year, however, the stock has fallen nearly 9% amid flight disruptions, crude oil price volatility and geopolitical tensions.
The decline came even after the DGCA data showed IndiGo retained its position as India's largest airline, with a 64.9% domestic market share in May.
Meanwhile. SpiceJet shares were down 1.21% at Rs 11.39 apiece during the first hour of trade.
The stock has been on a prolonged decline since November 2025 and has lost nearly 60% over the past six months. The airline has been dealing with legal obligations, lease liabilities and a smaller operating fleet, leaving it more exposed to higher fuel costs.
Other Development
Separately, IndiGo announced the appointment of Kanwal Jeet Singh Bakshi as its chief human resources officer. He will assume the role on July 20, 2026.
Bakshi will succeed Sukhjit Singh Pasricha, who will step down from the position on July 19, 2026.
ALSO READ: IOC, BPCL, HPCL Shares Drop 4% As Crude Oil Price Climbs 3% To $76 Per Barrel As US Strikes Iran
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
