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Last Updated : Dec 13, 2019 11:41 AM IST | Source: Moneycontrol.com

SpiceJet grounds 3 cargo aircraft; shares stay in the green

SpiceJet's November market share stood at 16.1 percent against 16.3 percent, month-on-month.

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SpiceJet share price stayed in the green in the morning trade on December 13 after the airline said it had grounded three of its Boeing 737 freighter aircraft on the advice of the Israeli Aerospace Industries (IAI).

"During an internal examination of IAI’s manufacturing facilities, a potential defect was discovered in the process used to manufacture the 9G rigid barrier installed on these aircraft," the company said in a regulatory filing.

The Israeli company was the one that converted the three 737 aircraft to freighters.

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SpiceJet said the aircraft will return to operations after regulatory clearance.

Share prices of airline companies, including Interglobe Aviation and SpiceJet, rose a day after November data showed an increase in domestic passenger traffic.

SpiceJet's November market share stood at 16.1 percent against 16.3 percent, month-on-month.

The cumulative domestic passenger traffic in the January-November period stood at 131.11 million, up from 126.28 million in 2018, registering a growth of 11.18 percent, the DGCA said.

Shares of SpiceJet were trading 1.07 percent up at Rs 103.60 on BSE at 1100 hours.

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First Published on Dec 13, 2019 11:41 am
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