Ajay Singh, the promoter of SpiceJet, who, on Wednesday, completed one year of takeover of the once-troubled airline, used the anniversary to motivate his employees, asking them to reflect back on the day a year ago when the carrier was on verge of being shut down.
The airline was in an extremely precarious situation last year in December, with most of its flights being cancelled and uncertainty hung over its survival. The government had told SpiceJet not to take bookings beyond March 31, 2015. It is at this point, the airline's former promoter Ajay Singh took over the charge back from its then owner, Kalanithi Maran.
Since then, the airline has seen a dramatic turnaround.
In an internal mail to employees, Singh said, “Today, December 16 is an important day for all of us. It was on this day last year that our airline cancelled all its flights and prepared (itself) to shut down. Customers harangued us, creditors chased us, and newspapers wrote our obituary. It was the lowest and most painful time in our history. In fact, for most, SpiceJet was history.”
Singh, who, in 2005, along with the UK-based partner, had launched SpiceJet by reviving ModiLuft's inactive air operator's permit. He, however, sold it in 2010 to Maran, although he retained 4% equity stake.
17/12/15 Shahkar Abidi/dna
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The airline was in an extremely precarious situation last year in December, with most of its flights being cancelled and uncertainty hung over its survival. The government had told SpiceJet not to take bookings beyond March 31, 2015. It is at this point, the airline's former promoter Ajay Singh took over the charge back from its then owner, Kalanithi Maran.
Since then, the airline has seen a dramatic turnaround.
In an internal mail to employees, Singh said, “Today, December 16 is an important day for all of us. It was on this day last year that our airline cancelled all its flights and prepared (itself) to shut down. Customers harangued us, creditors chased us, and newspapers wrote our obituary. It was the lowest and most painful time in our history. In fact, for most, SpiceJet was history.”
Singh, who, in 2005, along with the UK-based partner, had launched SpiceJet by reviving ModiLuft's inactive air operator's permit. He, however, sold it in 2010 to Maran, although he retained 4% equity stake.
17/12/15 Shahkar Abidi/dna
