Airline stocks spooked

Airline stocks are once again under pressure. Spicejet is among the top five losers, briefly touching the 10% LC of the day at Rs.82.35. Indigo also skimmed the 10% LC at Rs.1356.40.

The air of uncertainty is once again haunting this sector. The frequency of flights had just about increased but with the ban on flights to and from UK coming in, the fear that this could increase in the coming days has spooked the sector.

This apart, Saudi Arabia and Oman has also suspended all outgoing and incoming passenger flights temporarily.