Daijiworld Media Network - Mumbai

Mumbai, Dec 8: Shares of InterGlobe Aviation, the parent company of IndiGo Airlines, tumbled in early trading on Monday, plunging 6.6% to an intra-day low of Rs 5,015 on the BSE. The stock later recovered part of the losses and was trading at Rs 5,159.50 around 9:45 a.m., still down ?211 or 3.93%.

The sell-off followed news that the Directorate General of Civil Aviation (DGCA) had extended the deadline for IndiGo CEO Pieter Elbers to respond to a show-cause notice issued over the airline’s recent wave of operational disruptions. The regulator also sent a separate notice to IndiGo’s accountable manager on Sunday.

According to the DGCA, IndiGo’s widespread flight cancellations over the past week caused major inconvenience for passengers nationwide. The r

See Full Page