Shares of Indian airline operators experienced significant gains on Wednesday after the Union Cabinet approved the Emergency Credit Line Guarantee Scheme (ECLGS 5.0). SpiceJet's stock hit its 5% upper circuit limit, reaching ₹12.70 ($0.15 USD), while InterGlobe Aviation, the parent company of IndiGo, saw a nearly 4% increase to ₹4,376.70 ($52.70 USD). This surge in stock prices follows the government's initiative aimed at easing liquidity pressures on airlines and micro, small, and medium enterprises (MSMEs) affected by the ongoing conflict in West Asia. The ECLGS 5.0 scheme has a total outlay of ₹18,100 crore ($2.2 billion USD) and is expected to facilitate an additional ₹2.55 lakh crore ($30.6 billion USD) in credit, including a dedicated ₹5,000 crore ($600 million USD) window for airlines. Civil Aviation Minister K. Rammohan Naidu emphasized that the scheme would help maintain airline operations, preserve connectivity, and protect jobs within the aviation sector. Under the new framework, passenger airlines can access loans of up to 100% of their peak credit, capped at ₹1,500 crore ($180 million USD). The loans for airlines will have a tenure of up to seven years, including a two-year moratorium, while MSMEs can avail loans with a five-year tenure and a one-year repayment pause. The scheme will be applicable to loans sanctioned after the issuance of detailed guidelines by the National Credit Guarantee Trustee Company (NCGTC) and will remain in effect until March 31, 2027.