Airline stocks drag; Kingfisher slumps 7%

Shares of airline companies were lower on fund selling on concerns over the federal aviation ministry’s intervention on fares,two analysts said. An airline body said late on Tuesday its member carriers have decided to publish different fare levels for each route.

The aviation sector regulator has set up a tariff analysis unit to monitor route-wise tariff across networks of local carriers at regular intervals to cap excessive fares,the federal ministry of civil aviation said on Nov. 30.

At 2.01 p.m.,shares of Kingfisher Airlines,SpiceJet and Jet Airways were down 2-7 per cent.