Shares in SpiceJet tanked 9 per cent as concerns over its survival mounted. The cash-strapped airline was to meet government officials to help it continue to fly.
SpiceJet Chief Operating Officer Sanjiv Kapoor was reported to have said that the airline had not yet submitted a financial plan to the regulators.
Investors now remain concerned that SpiceJet would go the Kingfisher Airlines way. The concerns for the cash strapped airline were despite the fact that a key input of aviation turbine fuel costs had fallen in the last few weeks on falling crude prices.
The stock was last trading at Rs 12.50 on the Bombay Stock Exchange.