Jet, SpiceJet shares fall on AirAsia entry concerns

Shares in Jet Airways India fell nearly 3 percent and SpiceJet shares dropped 3.4 percent after India's Foreign Investment Promotion Board (FIPB) approves AirAsia's proposal to set up a joint venture in India, raising concerns about increased competition.

Shares also fell after Airports Authority of India said it will form a joint venture with local airlines and oil companies to supply jet fuel. Reuters[/caption]

Shares also fell after Airports Authority of India said it will form a joint venture with local airlines and oil companies to supply jet fuel, expecting to reduce airlines' fuel costs by at least 10 percent.

Reuters