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Shares of SpiceJet continued to fall on Wednesday, declining 7% to hit its one-year low level of 35 apiece on the BSE, amid multiple instances of its planes suffering technical glitches in recent weeks. The stock had fallen over 2% on Tuesday, a day when its Dubai-bound plane was diverted to Karachi due to malfunctioning of the fuel indicator.

SpiceJet's Delhi-Dubai flight suffered a mid-air malfunction in its fuel indicator on Tuesday and was diverted to Karachi and cracks developed on the windshield of another plane of the budget carrier at a height of 23,000 feet forcing a priority landing in Mumbai in a double whammy for the airline.

The two episodes on a single day have taken the total number of technical malfunction incidents involving SpiceJet aircraft to seven in the last over a fortnight.

According to officials of the Directorate General of Civil Aviation (DGCA), the aviation regulator is investigating all the seven incidents. SpiceJet’s Delhi-Dubai flight was diverted to Karachi as the fuel indicator started malfunctioning. The Boeing 737 Max aircraft made an emergency landing at Karachi airport at around 9:15 am after the Pakistani Civil Aviation Authorities permitted the Indian plane to land at the Jinnah International Airport on humanitarian grounds.

Hours after SpiceJet's Delhi-Dubai flight suffered a mid-air malfunction, cracks developed on the windshield of another plane of the budget carrier at a height of 23,000 feet forcing a priority landing in Mumbai in a double whammy for the airline.

In March last year, an Indigo Indian Airlines flight also had to make an emergency landing at the Karachi airport.

SpiceJet shares have declined more than 45% in 2022 (YTD) so far.

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