FILE PHOTO: A SpiceJet Boeing 737-800 aircraft taxis on the tarmac after landing at Chhatrapati Shivaji international airport
NEW DELHI: Two and a half years after SpiceJet Ltd was forced to ground its entire fleet on its inability to pay a mere US$2.2mil in fuel bills, the budget airline has become the world’s best-performing airline stock – with US$26bil 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. To top it all off, crude prices are staying low.
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