Ajay Singh

Chairman & Managing Director, Spicejet

 

SpiceJet stock is up 124 percent in 2017 and has gained more than 800 percent since its near-demise in December 2014, with market value of $1.2 billion.And Ajay Singh, the founder-cumpromoter of the airline, is credited for its successful transformation.

SpiceJet reported a quarterly profit of INR41.6 crore for through March 31, 2017,making it the ninth successive profitable quarter for the airline. Net profit for

FY2017 stood at INR430.7 Crore, making this the second successive year of profitable growth.These headwinds have subsided and SpiceJet is bullish about its future prospects.

“Spice Jet continues to invest aggressively in creating capacity in line with forecast. We overcame a complete operational shutdown and placed the biggest order for 205 aircraft in our history,” said Singh.

The USD22 billion (Rs.1,50,000 crore) aircraft order is the biggest ever placed by any Indian airline with Boeing in its history.