Aviation stocks fall after DGCA directive to stop bookings

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."

All domestic and international commercial passenger flights have been suspended for the lockdown period. However, cargo and special flights permitted by the DGCA can fly in this period.

The first phase of the lockdown was from March 25 to April 14. The second phase began on April 15 and ends on May 3.