Coronavirus: Aviation stocks may descend further as traffic dwindles

SpiceJet and InterGlobe Aviation (IndiGo), the two listed carriers, could see further correction in their share prices.
 
The development comes as passenger growth — which has been slowing down on account of the economic slowdown — has taken further hit due to the outbreak of coronavirus. While the IndiGo stock has slumped 36 per cent from its highs over the past year, that of SpiceJet has nosedived 53 per cent to its 15-month low. 
 
The immediate hit for the two airlines has come in the form of fall in traffic on international routes, which account for about a