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October 13, 2024
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SpiceJet survival assured with INR3k crore fund, but will it be long

SpiceJet survival assured with INR3k crore fund, but will it be long

SpiceJet chairman Ajay Singh has been able to again save India’s oldest private airline from going under for now; image credit: Company

Synopsis

Promoter Ajay Singh has a plan to turn around India’s oldest private airline. But the aviation industry is way different now than it was during a similar grounding and resurrection in 2015. Will the airline be able to get out of its constant hustle mode?

Last month cash-strapped budget airline SpiceJet’s headquarters in Gurugram had some unusual visitors. Many of these men wore casual clothes, some had slippers on and spoke in their native Haryanvi accent. Not common for an airline office where well-groomed cabin crew often sashay in and out, with promoter Ajay Singh’s dazzling black Maybach parked in the courtyard. Already rife with rumours of potential shutdown amid no salaries, word spread

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12 mins read, Last Updated:

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