A part of the Kalanithi Maran-led Sun Group, the jet has cancelled domestic flights and some to Kathmandu in Nepal. These included 81 flights on Monday.
This came at a time when the DGCA was planning to issue a show cause notice to the airline for defying its directives regarding advanced bookings. In fact, the Airport Authority of India is considering putting the jet on a cash-and-carry mode soon if it failed to provide a bank guarantee against its dues to the airport operator, which accounts to Rs 200 crore.
However, this would not have direct implication on the license, but may lead to actions. Worried over the state of affairs of the airliner, DGCA had cleard 186 of its slots and asked it to pay the dues of its employees within 10 days.
Shares of SpiceJet, which tumbled 13 per cent in early trade today amid a flurry of negative news including fund drought and large-scale flight cancellations, closed with a loss of 4.39 per cent at Rs. 15.25 a piece.