- Shares of Interglobe Aviation and SpiceJet fell after Russia's jet fuel export ban
- Russia's embargo on jet fuel exports lasts until November 30, 2026
- The ban aims to protect Russia's domestic fuel market amid refinery output slumps
Shares of Interglobe Aviation and SpiceJet are facing pressure in trade on Tuesday after Russia announced a temporary ban on jet fuel exports until November 30, 2026. The unexpected embargo has triggered fresh anxieties over global aviation turbine fuel (ATF) supply lines and pricing.
In early trade, these shares reacted to the news, with Indigo currently trading with cuts of around 1% while SpiceJet shares have fallen 1.14% compared to Monday's closing price.
This comes after Moscow's decision to halt export flows - a move aimed at safeguarding the country's domestic market following steep slumps in refinery output caused by recent attacks on its energy infrastrutcture.
For Indian carriers, any upward pressure on ATF prices poses a direct risk to profitability. Jet fuel typically accounts for nearly 40% of an airline's total operational costs.
It must be noted that IndiGo is coming off a highly volatile quarter. The budget carrier reported a consolidated net loss of Rs 2,536 crore for the fourth quarter ended March 31, 2026 - a sharp reversal from the Rs 3,067.5 crore profit logged in the same period last year.
A massive non-cash foreign exchange loss of Rs 4,881.6 crore due to rupee depreciation was the primary trigger for the headline loss. The IndiGo shares have fallen more than 22% in the last six months.
ALSO READ: IndiGo Q4 Results: Airline Swings To Loss After Rs 4,823 Crore Forex Hit
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