Shares of SpiceJet slipped as much as 7.99 per cent to Rs 72.50 in the early trade on Wednesday after the Directorate General of Civil Aviation (DGCA), India’s aviation regulator, grounded Boeing 737 MAX planes following the fatal crash of a plane of the same model in Ethiopia that killed 157 people.
“Passenger safety remains our top priority. We continue to consult closely with regulators around the world, airlines, and aircraft manufacturers to ensure passenger safety,” the Ministry of Civil Aviation tweeted late Tuesday night. “These planes will be grounded till appropriate modifications and safety measures are undertaken to ensure their safe operations.”
Jet Airways and SpiceJet operate Boeing 737 MAX 8 aircraft.
