March 14, 2018 / 7:06 AM / 3 months ago

BUZZ-India's InterGlobe Aviation falls as engine issues weigh

** Shares of low-cost carrier InterGlobe Aviation Ltd fall as much as 5.4 pct to 1,231 rupees, their biggest intraday pct loss since Sept. 25

** Co said it has nine Airbus A320neo aircraft on ground on Tuesday, after implementing a directive from aviation regulator Directorate General of Civil Aviation (DGCA)

** Series of in-flight engine failures prompted aviation regulator on Monday to order grounding of A320neo aircraft fitted with certain Pratt & Whitney engines

** The airline cancelled 42 flights on Wednesday bit.ly/2it8wbw

** Stock is up 8 pct this year as of Tuesday’s close, while peers Jet Airways (India) Ltd and Spicejet Ltd which shed 16 pct and 7 pct, respectively

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