IndiGo, SpiceJet shares sharply drop after Air India flight crashes near Ahmedabad airport

Shares of prominent Indian airlines, IndiGo and SpiceJet, experienced a significant downturn during the afternoon trading session on June 12. This sudden decline followed a tragic incident involving an Air India flight crash near Ahmedabad Airport in Gujarat. The aviation sector, often sensitive to such developments, reacted swiftly as investors reassessed the potential impact on the industry. The crash, which occurred under circumstances still being investigated, has cast a shadow over the airline industry, causing concern among stakeholders. Market analysts suggest that the incident has heightened fears about aviation safety, leading to a cautious approach among investors. While the exact cause of the crash remains unclear, the immediate market response underscores the volatility that can arise from such unforeseen events. Despite the drop in share prices, both IndiGo and SpiceJet are expected to closely monitor the situation and provide necessary updates to maintain stakeholder confidence. The broader industry impact will depend on the findings of the crash investigation and subsequent regulatory responses. As the situation unfolds, stakeholders remain vigilant, hoping for clarity and stability in the coming days.

— Authored by Next24 Live