SpiceJet shares in focus after aircraft window frame dislodges mid-flight
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Shares under pressure
Shares of airline operator SpiceJet are set to be in focus on Thursday after the airline confirmed a mid-air incident involving a cosmetic window frame on one of its Bombardier Q400 aircraft, even as it assured there was no compromise to passenger safety or aircraft integrity.SpiceJet on Wednesday said a 'cosmetic window frame on one of SpiceJet's Q400 aircraft became loose during flight and was found dislodged.' The airline clarified that the component was a 'non-structural trim component, fitted onto the window for the purpose of shade,' and emphasized it 'did not compromise the safety or integrity of the aircraft in any way.'The airline further stated that 'cabin pressurisation remained normal throughout the flight and there was no impact on passenger safety.' According to the company, 'The Q400 aircraft is equipped with multiple layers of window panes, including a robust, pressure-bearing outer pane, ensuring that passenger safety is never at risk, even in the unlikely event of a superficial or cosmetic component coming loose.'SpiceJet said the frame was repaired at the next scheduled stop, 'in line with standard maintenance procedures.'The airline's clarification comes at a time of heightened scrutiny around in-flight safety, following the recent crash of an Air India flight in Ahmedabad, which led to the deaths of nearly 300 people onboard and on the ground. SpiceJet shares have seen a sharp decline over the past year. The stock has fallen 23.5% in the last 12 months and nearly 29% in the past six months. Over the last three months, it is down nearly 13%, and down 10% in the past month.From a technical analysis standpoint, the outlook remains weak. The stock is currently trading below all eight key simple moving averages, including the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day SMAs, indicating bearish sentiment in both the short and long term.The Relative Strength Index (RSI) stands at 35.6, indicating the stock is approaching oversold territory. An RSI below 30 is generally seen as oversold, while readings above 70 are considered overbought.Meanwhile, the Moving Average Convergence Divergence (MACD) is at -1.2 and remains below both the center and signal lines, reinforcing the ongoing bearish trend.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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