Following the Directorate General of Civil Aviation’s (DGCA) decision to immediately place the airline under enhanced surveillance, SpiceJet shares dropped by 5%, trading at ₹62.50 on the BSE.
The DGCA’s action comes amid worries over SpiceJet’s operational stability, as the regulator intends to closely monitor the airline’s performance and compliance with safety protocols. This resulted in a drop in investor confidence, which is reflected in the stock’s poor performance in early trade.
SpiceJet, one of India’s low-cost carriers, has faced a number of obstacles in recent months, including financial constraints and operational problems.
As of 10:11 am, SpiceJet shares were trading 5.57% lower at Rs 62.54 on the NSE.
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