Airline Stocks : Jet Airways, InterGlobe Aviation and SpiceJet - jumped as much as 3-5% after Cabinet cleared the Civil aviation policy. Shares of SpiceJet soared 3.51 per cent to Rs. 66.40, InterGlobe Aviation rose 1.9 per cent to Rs. 1,008 and Jet Airways gained 0.21 per cent to Rs. 561.


Airline stocks - Jet Airways, InterGlobe Aviation and SpiceJet - jumped as much as 3-5 per cent.


Civil Aviation Minister Ashok Gajapathi Raju said that this policy will be a 'Game changer' and this will help India's aviation sector to be the World's third largest by 2022. This policy was finalized after 8 months since the Ministry came out with the revised draft in October 2015.


The NDA government had for the first time unveiled the policy draft in November 2014. The Policy was expected to be finalized in last financial year and certain proposals were expected to come into effect from April 1, 2016. But Government was moving to and fro on the policy to sort out the differences among stakeholders.


The Cabinet has also eased the 5/20 norm, under which domestic airlines can fly abroad only when they have a fleet of at least 20 aircraft and have flown in India for five years. 

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