Friday, April 21, 2017

Turning a company around and flying high

How do you turn around a business that incurs a loss of ₹3 crore a day, into one that makes a profit of ₹1 crore, every single day? Well, this is no fairy tale but a reality and the story of Ajay Singh, CEO of SpiceJet.

With absolutely no background in the aviation industry, how did he turn the company, that even Lufthansa airlines failed to run, from near bankruptcy to one of the most profitable airlines in India? “Well, we were all young and foolish, and at that point, you feel like you can do anything,” he laughs, adding, “But I did fundamentally believe that there was a market and there was talent to run a business of this sort.”

Ajay was also the brain behind Narendra Modi’s election-winning slogan, ‘Ab ki baar, Modi Sarkar’. In this week’s podcast, he speaks about how he got into the industry, how he managed to turn the company around, and more.
21/04/17 Kiruba Shankar/Business Line

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