IndiGo, SpiceJet shares drop up to 5%; govt reintroduces windfall tax on ATF exports

Airline stocks fell sharply on Friday as IndiGo and SpiceJet slipped up to 5%. The government, meanwhile, reinstated a windfall tax of Rs 29.5 per litre on ATF exports. The move comes amid rising oil prices and geopolitical tensions, adding pressure on carriers already facing higher fuel costs and regulatory challenges.