Airline stocks fell up to 5.5 per cent on Monday after regulator DGCA directed airlines to stop taking bookings for travel after May 3.
InterGlobe Aviation shares tumbled 5.47 per cent to Rs 1,010.65 per unit and those of SpiceJet fell by 2.77 per cent to Rs 47.25 on the BSE.
Aviation regulator DGCA directed airlines on Sunday 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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