Who is the owner of SpiceJet airline?

Introduction to SpiceJet airline

SpiceJet is one of the leading low-cost airlines of India, headquartered in Gurgaon, Haryana. It was founded in the year 2005 and commenced its operations in May 2005. SpiceJet has a fleet size of 124 aircraft and operates around 630 daily flights to 64 destinations, including 54 domestic and 10 international destinations. The airline has been known for providing affordable air travel options to its customers along with quality service.

Brief history of SpiceJet

SpiceJet was founded in the year 2005 by Ajay Singh, who acquired the airline from its previous owners. Initially, the airline operated with a fleet of just three Boeing 737 aircraft and flew to just two destinations in India. However, over the years, SpiceJet has grown tremendously and has become one of the leading airlines in India. The airline has been recognized for its on-time performance, efficient operations, and affordable fares.

Initial ownership of SpiceJet

SpiceJet was initially owned by a group of investors, including Bhupendra Kansagra, Ashutosh Dayal Sharma, and S. K. Modi. The airline was launched as an attempt to fill the gap in the Indian aviation market left by the failure of several airlines, including Air Deccan and Kingfisher Airlines.

Change in ownership of SpiceJet

In 2010, SpiceJet faced severe financial difficulties and was on the verge of shutting down. Ajay Singh, who was one of the original co-founders of SpiceJet, acquired the airline and took over as its chairman and managing director. He invested heavily in the airline and turned it around, making it profitable and successful once again.

Current owner of SpiceJet

Ajay Singh is the current owner of SpiceJet. He is a well-known Indian entrepreneur and politician, who is also known as the "turnaround man" for his ability to revive struggling businesses. Under his leadership, SpiceJet has grown tremendously, and the airline has won several awards for its service and operations.

Ajay Singh: Chairman and Managing Director

Ajay Singh is the chairman and managing director of SpiceJet. He is a graduate of the Harvard Business School and has worked with several leading companies before taking over SpiceJet. Singh is widely recognized for his business acumen and turnaround abilities, and he has been instrumental in the success of SpiceJet.

Previous owners of SpiceJet

SpiceJet was initially owned by a group of investors, including Bhupendra Kansagra, Ashutosh Dayal Sharma, and S. K. Modi. After the airline faced financial difficulties, Ajay Singh acquired the airline in 2010 and became the sole owner of the airline.

Ownership structure of SpiceJet

SpiceJet is a publicly listed company, and its shares are traded on the Bombay Stock Exchange and the National Stock Exchange of India. Ajay Singh is the largest shareholder in the company, with a 59.33% stake.

Challenges faced by SpiceJet

SpiceJet has faced several challenges over the years, including intense competition, rising fuel prices, and regulatory issues. However, the airline has been able to overcome these challenges and has emerged as one of the leading airlines in India.

Future plans for SpiceJet

SpiceJet has ambitious plans for the future, and the airline aims to expand its operations and fleet size further. The airline plans to add more international destinations to its network and has placed orders for new aircraft to support its expansion plans.

Conclusion: Key takeaways

SpiceJet is one of the leading low-cost airlines in India, known for providing affordable air travel options to its customers. The airline was initially owned by a group of investors, and Ajay Singh acquired the airline in 2010 and turned it around. Singh is the current owner of SpiceJet and has been instrumental in the airline’s success. The airline has ambitious plans for the future and aims to expand its operations and fleet size further.

References and sources

SpiceJet. (n.d.). About us. Retrieved from
Singh, A. (n.d.). Chairman and managing director. Retrieved from
Business Standard. (2014, December 23). Meet Ajay Singh, the man who saved SpiceJet. Retrieved from https://www.business-standard.com/article/companies/meet-ajay-singh-the-man-who-saved-spicejet-114122200037_1.html