Airlines shares fall after reports of new levy on some flights

Reuters

11 November 2016 at 2:45 am

NEW DELHI (Reuters) - Shares of InterGlobe Aviation, Jet Airways and SpiceJet fell between 2 percent to 4 percent each on media reports the government would impose a new levy on some domestic flights. The ministry of civil aviation has proposed the levy to help raise money to fund air travel between India's smaller towns and cities at a subsidised cost, according to the local media reports. ($1 = 67.0700 rupees) (Reporting by Aditi Shah; Editing by Rafael Nam)

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