SpiceJet, an Indian low-cost carrier, issued a statement on Thursday stating that all of its flights departed on time today and were not impacted by the aviation regulator’s (DGCA) order to operate only 50% of its flights for the next eight weeks.
Notably, the DGCA India on Wednesday, July 27 imposed restrictions on the number of flights operated by SpiceJet and reduced flight operations to 50% for the next eight weeks.
SpiceJet spokesperson on Thursday said;
“There has been absolutely no impact on our schedule following yesterday’s order by the regulator. This has been possible as SpiceJet, like other airlines, had already rescheduled its flight operations due to the current lean travel season.”Advertisement
In a statement, the airline also assures its passengers and travel partners that its flights will operate as scheduled in the coming days and weeks.
SpiceJet also stated that it is confident in expanding its operations and addressing any concerns raised by the regulator on a priority basis.
It is worth noting that SpiceJet is currently operating around 300 flights per day, which is roughly half of its approved 4,192 flights per week for the summer schedule.
Meanwhile, SpiceJet’s stock dropped more than 9% earlier today. The share price fell 9.66% to Rs 34.6 from the previous close of Rs 38.30 on the BSE.
The stock is trading lower than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, and SG’s market capitalization has dropped to Rs 2.145.40 crore.