More trouble for Spicejet, shares dip 5%

Low-cost carrier SpiceJet witnessed a sharp fall in its share prices on Wednesday - on a day when Hindustan Times reported that over a hundred of its cabin and cockpit crew had left the airline over the last couple of months. Tushar Srivastava reports.

Low-cost carrier SpiceJet witnessed a sharp fall in its share prices on Wednesday - on a day when Hindustan Times reported that over a hundred of its cabin and cockpit crew had left the airline over the last couple of months.

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The stocks of the Gurgaon-based no-frills carrier, controlled by Kalanithi Maran of Sun TV Network Ltd, fell by 5.04% to close at Rs 22.60 on the Bombay Stock Exchange.

Nearly 20 Captains and 90 cabin crew have left the airline. Aviation experts feel that such high-level of attrition could seriously impact the airline's expansion plans.

The airline, with a domestic market share of 14%, posted a loss of Rs 72 crore in the first quarter of fiscal 2012.