1. SpiceJet share price falls nearly 5% after payment default news

SpiceJet share price falls nearly 5% after payment default news

SpiceJet share price fell as much as 4.77 per cent on Friday on reports that the company has allegedly defaulted on payments to the Airports Authority of India

By: | New Delhi | Updated: December 11, 2015 4:40 PM
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SpiceJet share price fell as much as 4.77 per cent on Friday on reports that the company has allegedly defaulted on payments to the Airports Authority of India

SpiceJet share price fell as much as 4.77 per cent on Friday on reports that the company has allegedly defaulted on payments to the Airports Authority of India (AAI) towards landing, parking and route navigation charges, among others, and its total dues stand at Rs 155.49 crore.

At 1.23 pm, the share price of SpiceJet was trading 3.43 per cent down at Rs 64.80. The scrip opened at Rs 67.40 and had touched a high and low of Rs 67.45 and Rs 63.90, respectively, in trade so far. Later, the scrip settled 5.07 per cent down at Rs 63.70.

However, SpiceJet in a statement to PTI said that there is no default in payment to AAI since January this year. “There is no default in payment to AAI since January 2015. SpiceJet has been making regular payments to AAI as per agreed payment terms between SpiceJet and AAI,” the airline said in the statement.

In the past one year, the share price of SpiceJet climbed 314.20 per cent to Rs 67.10 on December 10. Sensex fell 9.27 per cent during the same period.

For the quarter ended September 2015, the company posted net profit of Rs 23.77 crore, up 107.66 per cent, against net loss of Rs 310.45 crore in the corresponding quarter a year ago.

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