Aviation stocks tumble as all commercial passenger flights suspended till May 31

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Interglobe Aviation informed the exchange that the company has suspended the operation of all its scheduled commercial flights until May 3, 2020.
Interglobe Aviation, Indigo

New Delhi, May 18 (PTI) Aviation stocks on Monday fell up to 7.3 per cent after regulator DGCA said all scheduled commercial passenger flights have been suspended till May 31 midnight.

Shares of InterGlobe Aviation dropped 7.27 per cent and those of SpiceJet fell 4.92 per cent on the BSE.

The Directorate General of Civil Aviation (DGCA) said “foreign and domestic airlines shall be suitably informed about the opening of their operations whether international to or from India or domestic, respectively, in due course”.

All commercial passenger flights have been suspended in India since March 25, when the lockdown was imposed to curb the spread of the novel coronavirus.

The National Disaster Management Authority (NDMA), the nodal department, has announced lockdown 4.0 till May 31 to check the spread of the novel coronavirus.

Source: PTI

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