SpiceJet shares jump 9% as IndiGo turbulence hits sector. GMR Airports slips 2% on travel chaos
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SpiceJet shares surged 9% intraday to hit a high of Rs 33 on the BSE on Friday, gaining from the massive flight disruptions at rival InterGlobe Aviation, operator of IndiGo. In contrast, GMR Airports — the majority owner of Delhi International Airport Ltd (DIAL) with a 64% stake — slipped 2% to its day’s low of Rs 101 on the NSE. SpiceJet shares gained following IndiGo's cancellation of more than 400 flights. Citing sources, PTI reported that over 220 flights, including departures and arrivals, were cancelled at the Delhi airport, while more than 100 were cancelled at the Bangalore airport. At the Hyderabad airport, over 90 flights were cancelled, the sources said. There were also cancellations at other airports, and many flights were delayed. IndiGo has been grappling with operational disruptions due to cabin crew woes and other factors. The stock saw significant volume action, which increased by 1.03 times. Live Events SpiceJet shar...