NEW DELHI : Airline stocks faced heavy headwinds on Thursday as concerns over enhanced travel restrictions amid spreading of coronavirus infections rattled investor sentiment. Shares of IndiGo, SpiceJet and the defunct Jet Airways were deep in the red in the morning trade, with SpiceJet slumping over 18%.
The broader market crashed as the benchmark 30-share Sensex plunged over 2,000 points. InterGlobe Aviation, the parent of the country’s largest airline IndiGo, tumbled 10% to ₹1,039.35 apiece, a day after it said that quarterly earnings would be hit due to fall in daily bookings amid the coronavirus outbreak.
SpiceJet dropped over 18% to ₹49.40 while Jet Airways fell nearly 5% to ₹18.95.
