InvestorQ : Why did stock correct so sharply on 18 May? DO you see further downsides in aviation stocks like Indigo and Spice Jet?
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Why did stock correct so sharply on 18 May? DO you see further downsides in aviation stocks like Indigo and Spice Jet?

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sara Kunju answered.
1 year ago
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Indigo and Spice Jet tumbled nearly 10% on Monday after the government's economic package failed to deliver any immediate liquidity support to the airline industry. Also, air travel stands prohibited till May 31 and perhaps beyond that also. There was some good news in the form of opening of the airspace to private airlines. This would save around Rs.1000 crore annually for the airlines but their biggest challenge is surviving the short term.

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