Court order to return planes may dampen SpiceJet stock surge
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New Delhi
THE biggest surge in an airline stock in the world since mid-December faces risks from a fight over planes.
The 63 per cent climb in India's SpiceJet Ltd from a December low, fuelled by its bailout from financial woes, leads the Bloomberg Intelligence Global Airlines Competitive Peers index. The carrier's newest obstacle is a court order last week seeking to return six of its 17 Boeing Co 737 planes to lessors who are owed money, a decision SpiceJet plans to appeal.
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