SpiceJet shares close 3% higher after DGCA lifts ban on Boeing 737 Max

Shares of SpiceJet on Friday closed nearly 3 per cent higher after aviation regulator DGCA lifted the ban on Boeing 737 Max planes' commercial flight operations after almost two-and-half years.

The stock, which gained 4.36 per cent to Rs 74.15 on the BSE during the day, closed at Rs 72.95, a gain of 2.67 per cent.

In traded volume terms, 4.63 lakh shares were traded at the BSE during the day. India's aviation regulator DGCA on Thursday lifted the ban on Boeing 737 Max planes' commercial flight operations after almost two-and-half years.

On March 13, 2019, all Boeing 737 Max planes were grounded in India by the Directorate General of Civil Aviation (DGCA) after the crash of an Ethiopian Airlines 737 Max plane on March 10, near Addis Ababa which had left 157 people, including four Indians, dead.

Currently, in India, only SpiceJet airline has Boeing 737 Max aircraft in its fleet. The budget carrier, in a statement on Thursday, said it expects to start operations of Max planes around the end of September, subject to regulatory approvals.