Stocks

Spicejet shares trade near 6-month low

Our Bureau | Updated on: Jan 12, 2022
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This is after court dismisses airline’s plea against Credit Suisse

SpiceJet’s stocks traded at a near six-month low at ₹63.75 on Wednesday. This comes a day after the Madras High Court dismissed the debt-strapped airline’s plea to not liquidate its assets in the Credit Suisse matter.

On January 12, SpiceJet’s stocks opened at ₹63.75 compared to ₹64.05 at closing time the previous day. Over six months ago, too, SpiceJet’s stocks traded at ₹63.85. Its 52 week low is ₹59.

On the other hand, stocks of IndiGo traded in green at ₹2,081.40, and Jet Airways stocks traded in red at ₹88 despite being a defunct airline.

The debt-strapped airline has been facing acute cash crunch, for at least three fiscals now, with its conditions worsening each quarter. The covid-19 pandemic, grounding of the Boeing Max 737 aircraft, litigations with aircraft manufacturers like De Havilland, statutory and government authorities are an added burden for the airline.

BusinessLine had reported that it has dues towards the Income Tax and Gst department along with unpaid provident fund dues for the past two-and-half years.

Published on January 12, 2022

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