SpiceJet shares slump nearly 8 per cent on fresh financial worries

Mumbai: Shares of SpiceJet on January 21 tumbled nearly 8 per cent after Mumbai Airport asked the budget carrier to immediately pay the pending dues of Rs 5 crore and provide a bank guarantee of Rs 15 crore. Reacting to this, shares of SpiceJet plunged 7.82 per cent to Rs 21.20 on the BSE.

Mumbai Airport had on January 20 asked the budget carrier SpiceJet to immediately clear its dues amounting to Rs 5 crore and provide a bank guarantee of Rs 15 crore, an issue the airline claimed has been "sorted out".

Mumbai International Airport Limited (MIAL), the private airport operator, in its notice to SpiceJet also said it will put the airline on cash-and carry mode of payment, if it did not make the payment, sources said. SpiceJet owes around Rs 240 crore to the Airports Authority of India (AAI) for using its airports in the country.