IndiGo, SpiceJet hit lower circuit after govt suspends domestic flights

Aviation stocks including SpiceJet and InterGlobe Aviation-run IndiGo crash landed at the bourses today after the central government announced suspension of the domestic flights beginning the 23:59 hours of March 24 in the wake of coronavirus (Covid-19) outbreak. While SpiceJet was locked in the 5 per cent lower circuit at Rs 31.85 apiece on the BSE, IndiGo hit its 10 per cent lower limit at Rs 765.05 before recovering maerginally to trade 8.6 per cent lower at Rs 776.50.

“The operation of all scheduled domestic flights (except all-cargo flights) by any aircraft operator holding an air operator certificate issued by Directorate General of Civil Aviation (DGCA) shall cease with effect from 23:59 hrs. IST on 24 March, 2020. The restriction shall remain in force till 23:59 hrs IST on 31 March 2O2O,” a government notification said.