SpiceJet’s stock fall 10%

New Delhi: The stock value of SpiceJet dropped by close to 10 per cent during Tuesday’s trading session following the announcements of two top-level executives stepping down. SpiceJet’s stock commenced trading today at Rs 60.57 per share on the BSE.

As layoffs at SpiceJet continue, Chief Commercial Officer Shilpa Bhatia and Chief Operating Officer Arun Kashyap have left the company. Sources told that the top executives were asked to put in papers after it surfaced that they were planning to enter in the aviation charter plane business through their spouses. Following the recent fund infusion, SpiceJet since last month has initiated several measures, including manpower rationalisation.