Ajay Singh is an Indian businessman, sports administrator, bureaucrat, and investor. He is the principal shareholder, Chairman and Managing Director of SpiceJet. He is also the President of the Boxing Federation of India, and Associate Vice President of the Indian Olympic Association. In 2005, Singh, along with Bhupendra Kansagra, acquired and renamed grounded ModiLuft Airlines to SpiceJet. Reportedly, SpiceJet sold 38,000 tickets on its first day of operation and had a load factor of over 90%. His main objective to co-found SpiceJet was to make airline tickets affordable to all Indians. In 2010, he left SpiceJet when the airline had over INR 800 crores in the bank. Soon after Singh left SpiceJet, the control of the company was taken over by Kalanithi Maran,  Sun  Group’ s  Chairman  and Managing Director. But Maran failed to control the company’s expenses, which led to its huge debts by the end of 2015. Nonetheless, Singh stepped in that same year and bought Maran’s majority shares. Today, SpiceJet is India’s second-largest airline in terms of domestic passengers.