Indian airlines take hit as government suspends inbound visas in bid to stem Coronavirus spread

NEW DELHI – Indian airline share prices tumbled on Thursday after the government moved to restrict travel into the country in an effort to stem the spread of coronavirus, prompting massive ticket discounting in an already slumping air travel market.

Shares in budget airline SpiceJetNSE -7.72 % Ltd skidded nearly 19% on Thursday morning even as it launched a sale offering tickets for as little as $13 one way, along with free meals and seats.