SpiceJet slumps on reports lessors want Boeing airplanes back

SpiceJet slumped 6.52% to Rs 21.50 at 12:18 IST on BSE on reports that lessors of aircraft want SpiceJet to return 15 Boeings aircrafts, adding to the woes of the troubled carrier.

Meanwhile, the S&P BSE Sensex was up 111.81 points or 0.39% at 28,896.48.

On BSE, so far 78.15 lakh shares were traded in the counter as against average daily volume of 1.18 crore shares in the past one quarter.

The stock hit a high of Rs 22.80 and a low of Rs 21.20 so far during the day. The stock had hit a 52-week low of Rs 11.10 on 13 August 2014. The stock had hit a 52-week high of Rs 24.10 yesterday, 20 January 2015.

The stock had outperformed the market over the past one month till 20 January 2015, surging 45.57% compared with Sensex's 5.16% rise. The scrip had also outperformed the market in past one quarter, advancing 54.57% as against Sensex's 8.91% rise.

The small-cap company has equity capital of Rs 599.45 crore. Face value per share is Rs 10.

According to reports, lessors of aircraft want SpiceJet to return 15 Boeings aircrafts, adding to the woes of the troubled carrier. The lessors have asked the Directorate General of Civil Aviation to deregister the aircraft that they want to repossess, reports added.

SpiceJet last week said that its board of directors at a meeting held on 15 January 2015, inter-alia, considered the proposal of the principal shareholder and promoter, Kalanithi Maran and KAL Airways to transfer the ownership, management and control of the company to Ajay Singh pursuant to a scheme of reconstruction and revival for the takeover of ownership, management and control of the company to be filed before the Ministry of Civil Aviation, Government of India.

SpiceJet reported a net loss of Rs 310.45 crore in Q2 September 2014, lower than net loss of Rs 559.49 crore in Q2 September 2013. Net sales rose 15.2% to Rs 1435.86 crore in Q2 September 2014 over Q2 September 2013.

SpiceJet is India's second largest airline by domestic passenger share.

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