Sources: SpiceJet suspends operations in Chennai for a week due to financial difficulties

Low-cost airline Spicejet has announced suspension of its operations from Chennai airport for at least a week, according to ET Now sources. The suspension, which came into effect on Sunday, is due to operational reasons.

As part of the suspension process, the Central Industrial Security Force (CISF) will bar passengers from entering the terminal. The temporary halt in operations is expected to affect a large number of travellers who depend on SpiceJet for their flights from Chennai. A detailed response from SpiceJet is awaited to clarify the exact reasons behind this decision.

The suspension comes against the backdrop of financial turmoil at SpiceJet after Engine Lease Finance BV recently filed an application with the National Company Law Tribunal to initiate insolvency proceedings against the airline.

On Friday, Spicejet shares closed at Rs 56.60, up 1.25 percent from the previous day. The 52-week high and low of the stock are Rs 77.50 and Rs 25.65 respectively. According to BSE analysis, the shares have given huge returns of 119.13 percent in the last one year.

(Disclaimer: The above article is for informational purposes only and should not be considered as investment advice. Times Now Digital recommends its readers/viewers to consult their financial advisor before making any financial decisions.)