SpiceJet in a rapid descent, airline says induction of new planes to boost operational reliability, reach

If hard numbers tell a story, low-cost private airline SpiceJet seems to be flying dangerously low these days. And rapidly falling market share is just one part of the story. In July this year, the Ajay Singh-promoted company saw its domestic share fall to an all-time low of 1.9%, compared to Akasa Air’s 5.5%. The three-year-old Akasa has also soared past SpiceJet to become the country’s third-largest airline by revenue.