SpiceJet plunges 10%, hits 52-week low after DGCA halves capacity

Shares of SpiceJet NSE -5.61 % plunged 10 per cent after aviation regulator DGCA directed that the company would operate only 50 per cent of approved flights for eight weeks. This development came after numerous flight safety incidents and a show-cause notice.

In response SpiceJet said, it has already been running half its approved capacity, in effect meaning the regulator’s restrictive mandate would have no impact on its operations.