Investors of SpiceJet saw their money loss on Friday morning as the share price fell by more than 6% owing to the decision made by the aviation regulator DGCA to put the crisis-hit company under intensified scrutiny.
The share plunged by 6.38%, which put the share at 62 on the BSE after the shares opened on a bearish note.
The Directorate General of Civil Aviation (DGCA) on Thursday made a decision for removing SpiceJet off the ground since it poses a security gap for the daily operations of the airline and it will involve a higher number of unannounced checks and monitoring at night and other measures.
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Reports of delayed flights and stresses over financial matters surrounded SpiceJet so the DGCA explained how they were prompted to perform a special engineering audit on August 7-8, where certain issues were discovered in the audits that were done.
‘’Considering everything considered and the special audit conducted in August 2024, DGCA announced that SpiceJet has once again been placed under enhanced surveillance with immediate effect.’’
‘’This would involve a proportionate increase in the number of spot checks/night surveillance as the safety of the operations cannot be compromised”, said the release.
At the time Yanai was still close to being all applause for the diminutive SpiceJet looking forward, the discipline was also stern at the ground level and placed imposed restrictions on peers and hotties within their control.
The basic carrier has faced various problems such as some financial and legal issues and is currently seeking support as well.