IndiGo, Spicejet shares rally after bagging slots, Jet Airways plunges 7%

Shares of Spicejet and IndiGo jumped on Wednesday morning after the private sector airlines bagged half of Jet Airways’ slots allotted so far. Shares of Interglobe Aviation, which runs the IndiGo airline gained by nearly 4% to hit the day’s high at Rs 1,623.

Spicejet share price jumped by more than 9% to hit the day’s high at Rs 134.05. Meanwhile, shares of the cash-strapped carrier Jet Airways slumped to a fresh 52-week low. Jet Airways shares cracked nearly 7% to hit an intraday low of Rs 120.25 on BSE. The development comes after the firm saw high profile exits in a matter of two days.

Jet Airways CEO Vinay Dube resigned from the airline with immediate effect on Tuesday. Dube cited personal reasons for his departure even as Jet Airways continues to make desperate attempts for revival.

Earlier on Monday, Jet Airways deputy chief executive and chief financial officer (CFO) Amit Agarwal had also resigned due to personal reasons, with immediate effect. Read More

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