Homemarket Newsstocks News

    Domestic flights in India to stop from midnight; IndiGo, SpiceJet fall up to 7.5%

    Domestic flights in India to stop from midnight; IndiGo, SpiceJet fall up to 7.5%

    Domestic flights in India to stop from midnight; IndiGo, SpiceJet fall up to 7.5%
    Profile image

    By Pranati Deva   IST (Published)

    Mini

    Airline stocks - IndiGo and SpiceJet fell up to 7.5 percent on Tuesday, in an otherwise strong market as domestic flights in India will stop from midnight.

    Airline stocks - IndiGo and SpiceJet fell up to 7.5 percent on Tuesday, in an otherwise strong market as domestic flights in India will stop from midnight (March 25) to March 31 in order to contain the deadly virus.
    Airlines will have to land domestic passenger flights at destinations by 11.59 pm on Tuesday, however, the restrictions would not apply to cargo flights. The country banned international flights from March 20 till March 29.
    SpiceJet hit its 5 percent lower circuit, down 5 percent at Rs 31.85, while IndiGo lost 7.5 percent to Rs 785 in intra-day deals. In comparison, the BSE Sensex was trading 0.8 percent higher at 26,202.
    Yesterday, the Directorate General of Civil Aviation also asked airlines and airports to ensure that the adjacent seat to a passenger is always vacant in aircraft and airports.
    The move will reduce airlines' carrying capacity by 33 percent, as two seats out of six in every row will have to be vacant.
    The regulator has also asked airlines to ensure a minimum distance of one-meter between passengers at check-in counters, waiting area, and boarding lines.
    The deadly virus, having originated in Wuhan of China, has resulted in nine deaths and a total of 492 positive cases in India as of 8:45 am of March 24.
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
    arrow down

      Most Read

      Market Movers

      View All
      CompanyPriceChng%Chng