Stocks

Aviation stocks tumble up to 10% as govt decides to suspend all domestic operations from tomorrow

PTI New Delhi | Updated on March 24, 2020 Published on March 24, 2020

Aviation stocks on Tuesday dropped up to 10 per cent after the announcement of suspension of all domestic operations of Indian airlines from March 25 amid Covid-19 pandemic.

Shares of IndiGo’s parent InterGlobe Aviation tanked 9.99 per cent to Rs 765.05 — their one-year low on the BSE.

SpiceJet also dropped 4.92 per cent to Rs 31.85 - its 52-week low as well as lower circuit.

Airlines will suspend all domestic operations from March 25 amid the outbreak of coronavirus (Covid-19), the Aviation Ministry announced on Monday.

The country has already suspended international flights.

The airline industry is one of the worst hit by the outbreak. The country’s largest carrier IndiGo has already announced pay cuts.

Published on March 24, 2020
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