SpiceJet shares tumble 7%, hit 52-week low after series of unfortunate events

SpiceJet shares continued to tank on Wednesday, declining seven per cent to hit a one-year low following several instances of its planes suffering technical glitches in recent weeks — the most recent being on  Tuesday when one of its aircraft, flying from Kandla, Gujarat, to Mumbai, Maharashtra, had to make a priority landing in Mumbai  after suffering a crack on its outer windshield midair. The scrip fell seven per cent to hit a 52-week low of Rs 35 on the BSE. SpiceJet shares opened at Rs 37.10 apiece after falling 2.33 per cent to close at Rs 37.65 on Tuesday, a day when its Dubai-bound plane was diverted to Karachi due to malfunctioning of the fuel indicator. In morning trade on Wednesday, shares of the airline were trading 2.66 per cent down at Rs 36.65 apiece. The broader market was in the positive territory and the benchmark Sensex rose nearly 400 points to 53,533.84 points. So far the total number of technical malfunction incidents involving SpiceJet aircraft have risen to seven in the last over a fortnight and, according to officials of the Directorate General of Civil Aviation (DGCA), the aviation regulator is investigating all of them. With input from agencies Also read: SpiceJet’s turbulent times continue: Low-cost carrier sees seven technical glitches in 17 days SpiceJet flight makes priority landing in Mumbai as windshield cracks midair; second mishap in a day SpiceJet Delhi-Dubai flight diverted to Pakistan's Karachi due to indicator light malfunctioning SpiceJet's Delhi-Jabalpur flight returns after crew notices smoke in cabin mid-air Probe initiated into SpiceJet Patna-Delhi aircraft fire and two other aircraft emergency incidents Delhi-bound IndiGo flight returns to Guwahati after bird hit; 3 incidents of emergency landing in a day reported Jabalpur-bound SpiceJet flight lands back in Delhi after cabin pressure failure Delhi bound SpiceJet plane catches fire mid air; all 185 passengers safe SpiceJet plane returns to Mumbai after windshield crack observed SpiceJet flights delayed due to ransomware attack, passengers complain of lack of communication from staff SpiceJet snag again: Durgapur-bound flight returns to Chennai after engine problem mid-air Read all the Latest News , Trending News , Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.