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Shares of SpiceJet fell sharply by over 8 per cent as the flight operations of the cash-strapped company were grounded today on payment woes.
Following this, SpiceJet’s scrip tumbled 8.27 per cent to Rs 12.75 at the BSE.
“Not even a single flight has taken off till this morning due to fuel supply issue with the oil companies,” sources told PTI.
The state-run oil marketing firms have not yet taken a decision on the resumption of jet fuel supply to SpiceJet on a two-weeks credit facility, they said.
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