MUMBAI: Shares of airline companies moved higher in early trade following reports that oil marketing company IOC has cut jet fuel prices by 2 per cent on the back of falling global crude oil prices.Jet Airways gained as much as 2.1 per cent in intraday trade on Wednesday and Spicejet rallied as much as 1.61 per cent.The movement in ATF prices is related to international crude oil rates.The price cut comes a month after 8.2 spike in aviation turbine fuel (ATF) or jet fuel.Fuel cost contributes to one-third of operational costs of airlines and lower input cost would help in margins improvement.