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SpiceJet slips over 3% as Chief Executive Niel Mills quits

By Religare
SpiceJet slips over 3% as Chief Executive Niel Mills quits
Shares of India's low cost carrier SpiceJet fell over 3 per cent in early trade on Bombay Stock Exchange (BSE) after Chief Executive Niel Mills resigned suddenly, nearly a year-and-a-half before the end of his contract.

Neil Mills has quitted at a time when the domestic aviation industry is witnessing some historical structural changes, with competition set to go to a next level as new foreign companies enter India.

Reacting to news, shares of the company declined as much as 3.28 per cent to trade at Rs 26.50 a piece on the BSE.

Meanwhile, the broader benchmark Sensex was quoting at 20,207.50, down 94.63 points or 0.43 per cent at 10:35 hours.

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