Two and a half years after SpiceJet Ltd was forced to ground its entire fleet on its inability to pay a mere $2.2 million in fuel bills, the budget airline has become the world’s best-performing airline stock—with $26 billion in plane orders to boot.
The company’s co-founder and chairman, Ajay Singh, has played the white knight, injecting capital, cutting loss-making routes and aggressively adding capacity in one of the world’s fastest growing markets. SpiceJet shares are the best performers on a Bloomberg Intelligence index of airline stocks this year.
Important Takeaways from Above News-
- CEO of SpiceJet is Mr. Ajay Singh.
- It Headquarters in Gurugram.