On the other hand, IndiGo is stuck in trouble, on the other hand, SpiceJet made a big play, the stock became a rocket in no time.

Spicejet Share Price: The ongoing crisis in India’s largest domestic airline IndiGo Airlines for the last few days is showing no sign of abating. The process of cancellation of many flights of the company is still going on. Thousands of Indigo flights have been canceled in the last one week. According to media reports, ticket refunds worth more than Rs 610 crore have been issued by the airlines so far. The impact of this crisis was also seen on the shares of IndiGo’s parent company Interglobe Aviation, which crashed by 9% during trading.

On the other hand, another airline company SpiceJet seemed to be getting the benefit of IndiGo Crisis. Amidst the latest stir in the aviation sector, when the company announced to increase its flights, its SpiceJet Share suddenly became a rocket and jumped by 14% during the trading.

Indigo shares crashed on Monday

First of all, let’s talk about the latest update of the crisis in IndiGo on Monday and its impact on the stock. Despite all the efforts, the operations of the airline have not been able to improve yet. According to reports, around 450 IndiGo flights were canceled for the seventh consecutive day and there was panic among the passengers. Talking about shares, IndiGo Share crashed and fell to Rs 4842 during trading. Due to this decline, the market cap of InterGlobe Aviation also declined to Rs 1.89 lakh crore.

Rocket pace in SpiceJet shares

On one hand, the share of IndiGo crashed, while on the other hand, the share of airline company SpiceJet was seen running at the speed of a rocket. During the day’s trading on Monday, this stock rose by 14.11 percent and reached Rs 35.50. However, by the time the market closed, its pace slowed down, yet even in a scattered market, it closed at Rs 32.50 with a rise of 4.47%. Amidst the rise in shares, the market capital of the company also increased to Rs 4590 crore.

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How does SpiceJet benefit from IndiGo’s crisis?

Now the question is indigo airline crisis How did SpiceJet get the benefit? Actually, this stormy rise in SpiceJet Share has been seen after a statement by the company’s Chairman and MD Ajay Singh (SpiceJet Chairman), in which he announced that spicejet airline IndiGo will operate 100 additional flights in the next few days to help passengers amid widespread flight delays and cancellations across the country. He termed IndiGo Crisis as unfortunate and said that it has caused a lot of inconvenience to the passengers.