IndiGo share price crashes 7%, looks set to extend losses to 7th session in a row on continuous flight delays
Interglobe Aviation (IndiGo) share price continues to fall, tanked nearly 7% in Monday’s trading session after the Delhi Airport said that IndiGo flights may continue to experience delays and after receiving show cause notice from aviation watch dog last week.
The stock is poised for a seventh consecutive day of decline following the cancellation of thousands of flights last week, which left passengers stranded and prompted the government to intervene to curb a sharp rise in airfares triggered by the situation.
What’s behind the fall?
The DGCA has issued a show cause notice to assess the airline’s readiness, even though it was informed in advance about the updated duty regulations. Any additional measures by the regulator might increase…
