Ajay Singh

SpiceJet restructuring balance sheet; to push for fleet expansion: CEO

SpiceJet chief Ajay Singh on Monday said the airline is significantly restructuring its balance sheet and will aggressively push for fleet expansion. The airline will also be having a significant number of dedicated cargo aircraft, he said, adding that the cargo business has helped the airline pay off its liabilities. Last month, the airline announced that Carlyle Aviation Partners will acquire a 7.5 per cent stake in the airline by converting outstanding dues as well as snap up shareholding in the cargo business. Besides, it is set to tap the Qualified Institutional Buyer (QIB) route to raise up to Rs 2,500 crore. Amid the budget carrier facing multiple headwinds, he also said that a measure of desperation is always good for an organisation... we will emerge stronger". "It is in our (SpiceJet) DNA. We just refuse to die," Singh said at a session at CAPA India aviation summit here. The airline is significantly restructuring the balance sheet and will be raising fresh capital. The

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SpiceJet shareholders' approve re-appointment of Ajay Singh as director

Shareholders of SpiceJet on Monday approved the re-appointment of Ajay Singh as a director of the no-frills airline. At the annual general meeting, the shareholders also gave their nod for the adoption of audited financial statements for financial year ended March 31, 2022. In a regulatory filing, the carrier said the re-appointment of Singh as a director liable to retire by rotation was cleared by the shareholders with requisite majority. Currently, Singh is the Chairman and Managing Director of the no-frills airline. Singh was originally appointed as director on November 4, 2004 and subsequently resigned on August 27, 2010. Thereafter, he was appointed as Managing Director of the company on May 21, 2015. The budget carrier is facing multiple headwinds and reported a net loss of Rs 789 crore in the June quarter due to an adverse impact of high fuel prices and rupee depreciation. On Monday, shares of the airline jumped nearly 7 per cent to close at Rs 37.85 apiece on BSE. SpiceJ

UN aviation body rejects SpiceJet claim, says it didn't inspect airline

Budget carrier said on Dec 5 its safety processes were found in order 'following an exhaustive audit conducted by the ICAO'

Ajay Singh-owned SpiceHealth's auditor resigns, says busy with other work

On August 1 this year, Bubber Jindal and Company tendered its resignation as statutory auditor of SpiceHealth

SpiceJet in dire need of recapitalisation to revive operation: Report

The carrier has been strong in its pursuit of weathering the storm but it has faced a series of headwinds for more than three years. The company reported huge loss in April-June quarter

SpiceJet reports combined loss of Rs 1,247 crore in Q4FY22 and Q1FY23

SpiceJet incurred net losses of Rs 316 crore, Rs 934 crore, and Rs 998 crore in FY19, FY20, and FY21, respectively

SpiceJet exploring stake sale to raise Rs 2,000 cr, says CMD Ajay Singh

SpiceJet is looking to raise investments from external parties, including airlines, said Ajay Singh on the sidelines of an ASSOCHAM event

Cheating case filed against SpiceJet MD Ajay Singh, others in Gurugram

A case of fraud has been registered against SpiceJet Chairman and Managing Director Ajay Singh and others for allegedly cheating a Gurugram resident by delivering fake share certificates to him.

SpiceXpress to be hived off from SpiceJet by Aug first week: Ajay Singh

Banks and shareholders have given their approval to hive off cargo and logistics company SpiceXpress from SpiceJet airline, the carrier's CMD Ajay Singh said

Catch 22: Airlines want a 15% hike in airfares but fear a drop in traffic

In the nine hikes since January 1, the jet fuel prices have been increased by Rs 49,017.8 per kl or nearly 55%

Hope to start broadband internet service on SpiceJet aircraft soon: CMD

SpiceJet will induct more Boeing 737 Max aircraft over the next few months and it hopes to start broadband internet service on its planes soon, its Chairman and Managing Director (CMD) Ajay Singh said

Consider giving interest to Kalanithi Maran, SC tells SpiceJet

The bench has now fixed the case for further hearing on April 18 after senior advocate Mukul Rohatgi, appearing for the Spicejet, sought some time

SpiceJet's Ajay Singh granted interim protection in fraud case

The court directed Singh to join the investigation and keep the disputed shares frozen in the meantime.

SpiceJet inks pact with Credit Suisse on $24-million dispute

In a separate case, top court asks airline to settle share-purchase dispute with Marans by Apr 12

SpiceJet promoter Ajay Singh to appeal against arrest warrant in Delhi

Delhi businessman accuses airline boss of failing to transfer shares to him as part of an agreement.

SpiceJet's Ajay Singh plans fleet expansion as carrier nears break-even

SpiceJet chairman Ajay Singh expects his cargo business to reach $1 billion in revenue in two to three years.

The final countdown

The administrative ministry - ministry of civil aviation - prone to leaks is privy to very little

Air India privatisation: SpiceJet's Ajay Singh has a risky flight plan

Even as the low-cost airline he runs has shrunk to survive the pandemic, many are questioning his plans to bid for national carrier Air India

SpiceJet, IndiGo ready for new war zone as cargo biz continues upward swing

Analysts remain sceptical on the profitability from freighter business