SpiceJet shares gained nearly 5% on Tuesday, 25 July, after the aviation regulator Directorate General of Civil Aviation (DGCA) relieved SpiceJet by removing the airline from the enhanced surveillance regime.

The shares opened at Rs 29.70 apiece and reached an intra-day high of Rs 31 and an intraday low of Rs 29.40.

Due to the issues, SpiceJet reported during the monsoon season last year, the airline was placed under enhanced surveillance.

Before letting the airline off from the enhanced surveillance, around 51 spot checks were carried out on the carrier’s fleet of Boeing 737 and Bombardier DHC Q-400 aircraft across 11 locations in India.

The civil aviation regulator said, “The findings (during spot checks) were of routine nature and were not considered significant by DGCA. Suitable maintenance action was taken by the airline to address the findings in accordance with DGCA guidelines. As a consequence, SpiceJet has been taken off the enhanced surveillance regime by DGCA,”

The regulators requested the airline to reduce its flying schedule by 50% for eight weeks on 27 July last year, and the restriction was removed on 30 October.

After noticing numerous issues with the airline, the DGCA issued a show-cause notice to SpiceJet last year.

The spiceJet share price fell 22.9% and underperformed its sector by 94.7% in the past year.

At 3:30 pm, the share of SpiceJet closed at Rs 29.87 a piece or 1.08% above its previous close on BSE.