IndiGo, SpiceJet dip up to 9.5% on no liquidity support, lockdown extension

Commercial passenger flights and airport operations are suspended since the nationwide lockdown was imposed on March 24, causing crores in losses

Aviation stocks InterGlobe Aviation and SpiceJet tumbled as much as 9.5 per cent on the BSE on Monday after the government's Rs 20 trillion economic package failed to deliver immediate liquidity support to the bleeding airlines. Besides, the government has prohibited air travel till May 31 as part of the fourth phase of the nationwide lockdown.

Individually, InterGlobe Aviation, parent firm of India's largest airline (by market share) IndiGo, tanked 9.5 per cent to Rs 890 on the BSE, while SpiceJet was locked in the 5 per cent lower circuit band at Rs 43.45 apiece. In comparison, the benchmark S&P BSE