Spicejet in rough weather
By Ruma Dubey
about 8 months ago
Spicejet is seeing a lot of turbulence today. The stock slipped down over 4% to an intraday low at Rs.41.85 and remains around the same levels.
The stock price fell after the company said that it has asked 80 of its pilots to go on a three-month leave without pay. This is being done to “help rationalise the pilot strength vis-à-vis the aircraft fleet," the airline said in a statement.
All the 80 pilots are from the airline's Boeing and Bombardier fleet.
After a slew of mishaps, the DGCA asking the company to operate at 50% of approved flights for the next eight weeks following multiple snags. And on top of all that, now this news. Clearly, the airplane company is caught in rough weather.
21st Sep 2022 at 12:09 pm