IndiGo, SpiceJet tumble: Aviation stocks staring at turbulent times ahead?
NEW DELHI: Airline shares tumbled on Monday along with more than 2,000 stocks on BSE as lockdowns and the worsening health crisis fuelled fears that people will travel less by air now.
Maharashtra and Rajasthan have already announced restrictions on movement, though they haven’t banned air travel yet. The situation seems to be a repeat of last year, when a spate of lockdowns caused airline stocks to lose altitude.
InterGlobe Aviation, which runs IndiGo, was down 3.24 per cent at Rs 1,529.70, and its peer SpiceJet slumped 5.93 per cent to Rs 61.90. The stocks have fallen 11 per cent and 35 per cent on a year-to-date basis, respectively.
