Indian airlines may need to rethink expansion plans as crude oil prices hover at unsustainable levels, even at $90 a barrel, budget carrier SpiceJet Ltd.’s chairman warned.

Shares of IndiGo and SpiceJet rallied up to 8% on Tuesday after US President Donald Trump signalled that the war with Iran could end soon, cooling the sharp rally in crude oil prices and raising hopes of easing tensions in the oil-rich Middle East after days of heightened conflict.

SpiceJet will operate eight special flights from Fujairah in the UAE on March 4 to bring back Indians stranded due to the West Asia conflict. Services will connect Delhi, Mumbai and Kochi as airlines adjust schedules.

Indian equity benchmarks plunged in initial trade today, dragged lower by weakness across sectors amid the ongoing conflict involving Iran, the United States and Israel.

SpiceJet retimed its Delhi-Kolkata flight and is operating special flights from the Gulf amid the West Asia conflict. The airline, along with Akasa Air, is boosting connectivity to help stranded passengers,

SpiceJet aircraft turns back minutes after take-off triggering ‘full emergency’ at airport - Boeing 737 aircraft operated by SpiceJet reported to be linked to engine failure

SpiceJet will operate 14 special flights from the UAE on March 6 to bring back Indian nationals stranded in the Gulf as the Iran war disrupts West Asia air travel and forces hundreds of flight cancellations.

In its update, Air India said, “With airspace over Saudi Arabia and Oman remaining open, Air India and Air India Express continue to operate their scheduled services to and from Jeddah and Muscat.”

As cancellations continue across West Asia, SpiceJet's emergency flights offer stranded travellers a crucial route back to India.