India suspends Boeing 737 MAX aircraft

India will not allow US plane maker Boeing's 737 MAX aircraft to enter or transit its airspace, the ministry of civil aviation says, following the fatal crash of a plane of the same type in Ethiopia.

Jet Airways Ltd and SpiceJet Ltd, two top Indian airlines, operate Boeing 737 MAX 8 aircraft.

SpiceJet suspended operations of the 737 MAX after the regulator's decision to ground the aircraft, the airline's spokesman said on Wednesday.

The airline has 13 737 MAX jets in its fleet, according to FlightGlobal.

Jet Airways, in a response to customer queries on Twitter, said it was not flying the 737 MAX.

The airline, which is struggling financially, has said that 32 of the planes in its fleet have been grounded for non-payment to lessors.

It has not specified the types involved, but FlightRadar24 data shows its five once-active 737 MAX jets were grounded before the Ethiopian crash.

The European Union's aviation safety regulator has already suspended all flights in the bloc by Boeing 737 MAX planes, joining a wave of suspensions of the aircraft across the globe, including Australia and New Zealand.

SpiceJet's shares plunged as much as 8.8 percent to their lowest since December 11, before recovering to trade down 2.9 percent later in the day. Jet fell as much as 3.4 percent.