With preparations almost on a far footing, including over a dozen MoUs signed in less than two months, SpiceJet may have readied the most extensive network to deliver vaccines for any airline in India.
It is also a calculative risk, that some observers call opportunistic. If successful, delivering vaccines across the country may also keep Ajay Singh's core aviation business, which like its peers is yet to reach anywhere close to pre-COVID-19 levels, afloat.
The low-cost airline is driving the initiative through its cargo unit SpiceXpress, which has already proved its usefulness by limiting losses for the airline by clocking revenues of about Rs 550 crore in the first six months of the financial year.
The cargo vertical, which had floated a new unit Spice Pharma Pro to drive the vaccine business, is also working in tandem with SpiceHealth, the private initiative of the Singh family that will be the last stop in the whole supply chain to administer the doses.
Timing has been crucial. India is possibly just over a week away from getting its vaccines, after the government gave nod to Serum Institute and Bharat Biotech. The target is to vaccinate 30 crore Indians by July, translating to about 60 crore doses. It is a market that SpiceJet wants to corner.
06/01/21 Prince Mathews Thomas/Moneycontrol.com
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