SpiceJet shares crash over 8% as flight operations grounded

Mumbai: Shares of SpiceJet fell sharply by over 8 per cent as flight operations of the cash-strapped company were grounded today on payment woes.

Following this, SpiceJet’s scrip tumbled 8.27 per cent to Rs 12.75 at the BSE.

“Not even a single flight has taken off till this morning due to fuel supply issue with the oil companies,” sources told PTI.

The state-run oil marketing firms have not yet taken a decision on the resumption of jet fuel supply to SpiceJet on a two-weeks credit facility, they said.

PTI