SpiceJet hits 2-year low after aviation regulator halves capacity

BENGALURU: Shares of SpiceJet fell as much as 9.3% on Thursday, a day after the country’s aviation regulator ordered the budget carrier to slash its approved fleet to 50% this summer for eight weeks, citing multiple safety snags.
The Director General of Civil Aviation (DGCA) also said on Wednesday that the domestic airline will be subjected to “enhanced surveillance”.
SpiceJet sought to reassure its customers and said there was “absolutely no impact on its flight operations” after the DGCA order.
Earlier this month, the watchdog had issued a warning notice to SpiceJet after a review of incidents, which included a side windshield outer pane that cracked mid-flight and a malfunctioning indicator light.
“SpiceJet is taking measures for arresting the trend of incidents. However, the airline needs to sustain these efforts for safe and reliable air transport service,” the DGCA said in its order on Wednesday.