Aviation in focus: SpiceJet stock has worst showing in Asia Pacific region

The stock of SpiceJet has been the worst-performing among airlines in the Asia Pacific region. The airline, which is in the dock over a DGCA show cause notice, has seen a 43 per cent decline in its share price since January 1. 

On Thursday, the stock gained over 1 per cent and closed at Rs 38.85 on the BSE. Elevated crude oil prices and subdued demand environment in domestic markets are concerns. 

A settlement with Boeing on 737 Max on outstanding claims last November was a positive trigger for the stock. The cargo business too has performed well. 

But, the airline’s plan to hive off its cargo business is stuck. SpiceJet is yet to report its fourth quarter FY22 result following a ransomware attack in May. Rival airline IndiGo’s stock has dropped 16.52 per cent since January 1.