Indian airline stocks drop on fare regulation; AirAsia to establish Philippine JV
Indian airline stocks declined on Wednesday as the Government intervened to curtail airlines from charging high fares for last-minute ticket bookings. Kingfisher shares slumped 7.3% following a 2.8% decline the previous day. SpiceJet shares were 1.8% weaker, following a decline of 2.3% the previous day while Jet Airways’ shares fell 3.7%.
