SpiceJet shares soar as IndiGo faces flight cuts
SpiceJet's stock shot up 15% over three days after India's aviation regulator told IndiGo to cut 5% of its flights—freeing up about 110 daily flights for rivals like SpiceJet to grab.
This shift comes as IndiGo, which commands close to 66% of India's domestic skies, hits a rough patch with staffing and schedule issues.
Why does this matter?
IndiGo's troubles led to over 1,000 canceled flights in a single day, stranding thousands of travelers.
To fill the gap and meet soaring demand, SpiceJet quickly added 100 extra flights.
The shake-up means more options for flyers while airlines scramble to adapt.
What's behind the chaos?
New rules on pilot work hours have squeezed IndiGo's crew availability.
Investors have noticed—IndiGo's parent company shares dropped 17% in a week, while SpiceJet is finally seeing some gains after a tough year.