SpiceJet falls over 12% as DGCA seeks details of dues

NEW DELHI: SpiceJet plunged as much as 12.2 per cent in trade on Wednesday the Directorate General of Civil Aviation ( DGCA) is carrying out an engineering audit of SpiceJet after the carrier is said to have found it difficult to provide equipment to operate some flights.

"The audit is to be carried out in the next 15 days and will look at the quality of maintenance of aircraft and availability of spares at SpiceJet," ET said in a report quoting a government official.

At 11:00 a.m.; SpiceJet was trading 11.6 per cent lower at Rs 14.75. It hit a low of Rs 16.45 and a high of Rs 16.10 in trade today.

DGCA has also sought details on dues to various vendors from SpiceJet to ascertain the airline's financial condition.

SpiceJet has been under financial stress, having incurred record losses of over Rs 1,000 crore in FY2013-14. According to the report, the airline has also not issued Form 16 to its employees - one of whom has complained to the aviation regulator.