Ajay Singh

Chairman & Managing Director

Spicejet

India's low cost carrier SpiceJet was on the deathbed a few years ago, but once the baton changed from Kalanithi Maran to Ajay Singh, the founder-cum- promoter of the airline, it is now doing well. 

Early this year, Mr. Singh proudly announced “SpiceJet has no debt today.” 

Mr. Singh co-founded Argentum Motors Private Limited and serves as its chairman. He has extensive experience in  information technology and airline operations.

The airline reported a net profit of Rs.1490 million for the first quarter of 2016 as against Rs.730 million the same period last year. 

It operates over 270 daily flights to 41 destinations, including seven international cities, using a mixed fleet of dry and wet-leased Airbus A319, Boeing 737 Next Generation and Bombardier Dash 8 Q400 aircraft.

Mr. Singh infused a tranche of US$142 million after taking over the airline. 

Under a detailed plan to bolster its fortunes, SpiceJet's immediate priority is to further "regain consumer confidence" before embarking on fleet expansion. 

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