SpiceJet shares slump nearly 8% on fresh financial worries

Subscribe to GoodReturns

Shares of SpiceJet today tumbled nearly 8 per cent after Mumbai Airport asked the budget carrier to immediately pay the pending dues of Rs 5 crore and provide a bank guarantee of Rs 15 crore.

SpiceJet shares slump nearly 8% on fresh financial worries
Reacting to this, shares of SpiceJet plunged 7.82 per cent to Rs 21.20 on the BSE. Mumbai Airport had yesterday asked the budget carrier SpiceJet to immediately clear its dues amounting to Rs 5 crore and provide a bank guarantee of Rs 15 crore, an issue the airline claimed has been "sorted out".

Mumbai International Airport Limited (MIAL), the private airport operator, in its notice to SpiceJet also said it will put the airline on cash-and carry mode of payment, if it did not make the payment, sources said. SpiceJet owes around Rs 240 crore to the Airports Authority of India (AAI) for using its airports in the country.

PTI

Read more about: spicejet
Story first published: Wednesday, January 21, 2015, 12:00 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Thousands of Goodreturn readers receive our evening newsletter.
Have you subscribed?