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SpiceJet lower as fare war enters new phase; AirAsia gains on traffic report – SHARE WRAP

SpiceJet’s shares slumped 10.4% yesterday as the carrier announced it would reduce its return fares in response to Air India’s move to slash its fares by up to 70%, due to falling load factors. SpiceJet had been saying as recently as last week that it would aim to raise its fares in response to higher fuel prices and weak yields.

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