Amid flight glitches, SpiceJet shares dive almost 10 per cent; hit 52-week low
2 min readBy PTI
NEW DELHI: Shares of SpiceJet tanked almost 10 per cent in morning commerce on Thursday, after the corporate was requested by aviation regulator DGCA to curtail its providers by half for eight weeks.
The inventory tanked 9.66 per cent to its 52-week low of Rs 34.60 on the BSE.
The stoop within the SpiceJet counter assumes significance because the 30-share BSE benchmark was buying and selling 733.21 factors or 1.31 per cent increased at 56,549.53.
Aviation regulator DGCA on Wednesday ordered SpiceJet to function a most of fifty per cent of its flights for eight weeks after a number of of its planes reported technical malfunction lately.
During these eight weeks, the price range provider can be subjected to “enhanced surveillance” by the Directorate General of Civil Aviation (DGCA).
On Thursday, SpiceJet stated it’s assured of scaling up its operations and addressing issues of the DGCA.
On Wednesday, the airline had stated that there can be no flight cancellations due to the regulator’s order as it’s already working restricted providers “due to the current lean travel season”.
“In view of the findings of various spot checks, inspections and the reply to the show cause notice submitted by SpiceJet, for the continued sustenance of safe and reliable transport service, the number of departures of SpiceJet is hereby restricted to 50 per cent of the number of departures approved under summer schedule 2022 for a period of eight weeks,” the aviation regulator’s order on Wednesday stated.
NEW DELHI: Shares of SpiceJet tanked almost 10 per cent in morning commerce on Thursday, after the corporate was requested by aviation regulator DGCA to curtail its providers by half for eight weeks.
The inventory tanked 9.66 per cent to its 52-week low of Rs 34.60 on the BSE.
The stoop within the SpiceJet counter assumes significance because the 30-share BSE benchmark was buying and selling 733.21 factors or 1.31 per cent increased at 56,549.53.
Aviation regulator DGCA on Wednesday ordered SpiceJet to function a most of fifty per cent of its flights for eight weeks after a number of of its planes reported technical malfunction lately.
During these eight weeks, the price range provider can be subjected to “enhanced surveillance” by the Directorate General of Civil Aviation (DGCA).
On Thursday, SpiceJet stated it’s assured of scaling up its operations and addressing issues of the DGCA.
On Wednesday, the airline had stated that there can be no flight cancellations due to the regulator’s order as it’s already working restricted providers “due to the current lean travel season”.
“In view of the findings of various spot checks, inspections and the reply to the show cause notice submitted by SpiceJet, for the continued sustenance of safe and reliable transport service, the number of departures of SpiceJet is hereby restricted to 50 per cent of the number of departures approved under summer schedule 2022 for a period of eight weeks,” the aviation regulator’s order on Wednesday stated.
