Spicejet stock slips by 8%

Why Spicejet Stock is Falling?

Spicejet Ltd. is the 2nd largest company in the Airlines sector with market share over 12%. Spicejet had opted for Boeing 737-800/ 737-900 ER aircrafts in operations. India has grounded Boeing 737 MAX being operated by airlines in the country after about 15 countries banned the aircraft following two deadly accidents within a span of five months. Shares of Spicejet slipped 8% and a hit an intra-day low of Rs 72.50 on Wednesday morning [13 March 2019]. on fears that grounding of Boeing 737 MAX aircraft will hurt the airline’s revenue and profitability.