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SpiceJet scrip fall 8% as Max 737 aircraft grounded

SpiceJet scrip fall 8% as Max 737 aircraft grounded

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  14 March 2019 8:51 AM GMT

Mumbai: The stock of Budget carrier SpiceJet, which operates the largest fleet of Boeing 737 MAX aircraft in India, fell 8 per cent during the early trade on Wednesday, a day after the Indian civil aviation regulator ordered grounding of all such planes.

Shares of SpiceJet, which has 12 of the total 17 Boeing 737 MAX aircraft in India, fell 7.9 per cent to touch an intra-day low of Rs 72.50 per share on the BSE around 10.30 a.m.

The Directorate General of Civil Aviation (DGCA) late on Tuesday ordered “grounding the Boeing 737-MAX planes immediately” after aviation authorities across the globe, with the notable exception of the US, decided to ground the particular aircraft following Sunday’s crash of an Ethiopian Airlines’ aircraft of the same model killing all 157 people on board.

Following the DGCA order, SpiceJet on Wednesday said it has cancelled multiple flights. (IANS)

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