Shares of this BSE 500 airline company are buzzing on the bourses today!

The company underwent an exhaustive audit conducted by the International Civil Aviation Organisation (ICAO).

The shares of SpiceJet Ltd are buzzing on the bourses today. As of 11.50 am, the shares of the company are trading higher by 6.05%. Owing to this, the shares of SpiceJet are one of the top gainers on BSE in today’s session. Meanwhile, the frontline index S&P BSE Sensex is down by 0.48%.

The rally in the share price comes after an important announcement made by the company yesterday. As per the exchange filing, the company underwent an exhaustive audit conducted by the International Civil Aviation Organisation (ICAO).

The audit included a review of the various flight critical functions and operational areas such as flight planning, weather assessment, route planning, aircraft serviceability, operations to critical airports, pilot rostering systems, cabin safety procedures etc.

ICAO is a specialized agency of the United Nations to promote the safe and orderly development of international civil aviation around the world. The comprehensive audit by ICAO found SpiceJet's operations, safety processes and systems to be in order. Owing to this, ICAO established SpiceJet’s credentials as a safe airline.

It should be noted that SpiceJet was the only scheduled Indian airline that was a part of the audit conducted by ICAO under the Universal Safety Oversight Audit Programme (USOAP) Continuous Monitoring Approach. The audit of SpiceJet safety systems helped India achieve its highest-ever safety ranking in the ICAO audit.

SpiceJet is an IATA-IOSA-certified airline that operates a fleet of Boeing 737s, Q‐400s and freighters. It is India’s largest regional player operating multiple daily flights under UDAN or the Regional Connectivity Scheme.

Today, the scrip opened at Rs 39.30, which is also the day’s low. Further, the shares of SpiceJet touched an intra-day high of Rs 43.25. So far 6,63,957 shares have been traded on the bourses. The stock has a 52-week high & low of Rs 71.80 and Rs 34.60 respectively on BSE.