IndiGo, SpiceJet slide up to 6% after Air India plane crash, oil price surge

Share prices of Indian aviation companies plummeted following a tragic Air India crash and a surge in global crude oil prices. The Air India Dreamliner crashed shortly after takeoff, killing all 241 onboard, triggering caution among investors. Simultaneously, escalating Middle East tensions, highlighted by Israeli strikes on Iran, caused oil prices to soar, further pressuring airline profitability due to increased fuel costs.