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SpiceJet shares decline 2%

On July 5 when its Dubai-bound plane was diverted to Karachi due to malfunctioning of the fuel indicator, the airline’s scrip dropped 2.33 percent to close at Rs 37.65 apiece on BSE.

July 05, 2022 / 07:46 PM IST
SpiceJet

SpiceJet

Shares of SpiceJet on July 5 fell by over 2 percent amid multiple instances of its planes suffering technical problems in recent weeks.

On July 5 when its Dubai-bound plane was diverted to Karachi due to malfunctioning of the fuel indicator, the airline’s scrip dropped 2.33 percent to close at Rs 37.65 apiece on BSE.

The scrip, which opened at Rs 38.50, touched an intraday low of Rs 37.45. During the session, it had recorded an intraday high of Rs 38.95. The 52-week low of the carrier’s shares is Rs 37.15.

The broader market ended in the negative territory with the 30-share benchmark Sensed declining a little over 100 points to close at 53,134.35 points on July 5.

In a statement, SpiceJet said that its B737 aircraft operating flight SG-11 (Delhi-Dubai) was diverted to Karachi due to an indicator light malfunctioning.

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"No emergency was declared, and the aircraft made a normal landing. There was no earlier report of any malfunction with the aircraft," it said. This is at least sixth incident of technical malfunction happening on SpiceJet aircraft in the last 17 days.

Aviation regulator DGCA is investigating the July 5 incident, along with the previous five incidents.
PTI
first published: Jul 5, 2022 07:46 pm
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