Airline stocks on Monday settled up to 6 per cent lower after the civil aviation regulator DGCA directed airlines to stop taking bookings for travel after May 3.
Shares of InterGlobe Aviation, parent of IndiGo, tumbled 6.05 per cent to close at Rs 1,004.50 per unit and those of SpiceJet fell by 1.85 per cent to Rs 47.70 apiece on the BSE.
DGCA on Sunday directed airlines to stop taking bookings for travel after May 3, assuring them that they would be given sufficient time to restart flight operations.
The Directorate General of Civil Aviation (DGCA) issued a circular stating, "all airlines are hereby directed to refrain from booking tickets... Further, the airlines may note that they shall be given sufficient notice and time for restarting operations."
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