IndiGo's stock plunges nearly 7% after flight delays and cancelations
IndiGo's shares took a sharp 7% dip on Monday, right after Delhi Airport warned travelers about more flight delays.
The airline is struggling with operational issues, including a recent wave of flight cancelations and government intervention to curb a sharp rise in airfares.
Investors are worried, especially since IndiGo just got a show cause notice from aviation regulators and is heading for its seventh straight day of losses.
What's behind the turbulence?
The DGCA's notice is checking if IndiGo is following new work-hour rules for staff—which could mean higher costs and even temporary limits on flights.
Meanwhile, Delhi Airport urged passengers to double-check their flight status and promised to help minimize disruptions.
All this extra scrutiny has investors concerned about how it might impact IndiGo's performance.