SpiceJet shares continued to tumble on Wednesday, falling 7% to hit their one-year low 35 per cent on the BSE amid several incidents of technical glitches in its planes in recent weeks. The stock was down more than 2% on Tuesday, a day when a Dubai-bound plane was diverted to Karachi due to a fuel indicator malfunction.
SpiceJetA Delhi-Dubai flight on Tuesday suffered an air defect in its fuel indicator and was diverted to Karachi and cracks developed on the windshield of the budget carrier’s second aircraft at an altitude of 23,000 feet, prompting a crash in Mumbai. Priority landing was forced. Double whammy for the airline.
In two episodes in a single day, the total number of incidents of technical snag in SpiceJet aircraft in the last fortnight has gone up to seven.
According to the Directorate General of Civil Aviation (DGCA) officials, the aviation regulator is probing all the seven incidents. SpiceJet’s Delhi-Dubai flight was diverted to Karachi as the fuel indicator started failing. The Boeing 737 MAX aircraft made an emergency landing at Karachi airport at around 9:15 am after Pakistani civil aviation authorities allowed the Indian aircraft to land at Jinnah International Airport on humanitarian grounds.
Hours after SpiceJet’s Delhi-Dubai flight crashed into mid-air, the budget carrier’s second plane developed cracks in its windshield at an altitude of 23,000 feet, making a priority landing in Mumbai in a double whammy for the airline.
In March last year, an Indigo Indian Airlines flight also had to make an emergency landing at the Karachi airport.
SpiceJet shares have fallen over 45% so far in 2022 (YTD).