The SpiceJet promoter is not new to dealing with crisis. As the airline grapples with safety incidents, the wily businessman will have to lead from the front for a revival. Experts wonder where the cash will come from to stabilise the airline
In India’s aviation industry, Ajay Singh has quite a stellar reputation as a turnaround master. After all, in 2014, when SpiceJet, currently India’s third largest airline by market share, was on the verge of shutting down, Singh had bought the airline before making a turnaround in its fortunes. By 2015, a year after he purchased it, SpiceJet was the world’s best-performing airline stock, after it soared some 340 percent.