{"id":635573,"date":"2024-02-21T11:00:29","date_gmt":"2024-02-21T05:30:29","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=635573"},"modified":"2024-02-21T11:00:29","modified_gmt":"2024-02-21T05:30:29","slug":"why-ajay-singh-of-troubled-spicejet-seeks-redemption-in-bankrupt-go-first","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/why-ajay-singh-of-troubled-spicejet-seeks-redemption-in-bankrupt-go-first\/","title":{"rendered":"Why Ajay Singh of troubled SpiceJet seeks redemption in bankrupt Go First"},"content":{"rendered":"<p>SpiceJet promoter and chairman Ajay Singh is known as a turnaround man. Nearly 20 years ago, he bought an airline, ModiLuft, which had been dead for close to a decade, renamed it, and turned it into a successful low-cost carrier, SpiceJet. He sold most of his stake in SpiceJet in 2010 to media baron Kalanithi Maran&#8217;s Sun Group, and soon exited by selling the remaining stake too. In a few years, SpiceJet turned into a loss-making, debt-ridden, dying airline. Despite advice by friends to keep off, Ajay Singh again bought a stake in the airline, turned it around and put it on a path of sustained profitability. It wasn&#8217;t just his turnaround skills; he was lucky too, because the oil prices had crashed. Prices of air traffic fuel are a big factor behind the performance of an airline.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SpiceJet promoter and chairman Ajay Singh is known as a turnaround man. Nearly 20 years ago, he bought an airline, ModiLuft, which had been dead for close to a decade, renamed it, and turned it into a successful low-cost carrier, SpiceJet. He sold most of his stake in SpiceJet in 2010 to media baron Kalanithi Maran&#8217;s Sun Group, and soon exited by selling the remaining stake too. In a few years, SpiceJet turned into a loss-making, debt-ridden, dying airline. Despite advice by friends to keep off, Ajay Singh again bought a stake in the airline, turned it around and put [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[192,130,136],"tags":[],"class_list":["post-635573","post","type-post","status-publish","format-standard","hentry","category-civil-aviation-the-economic-times","category-newspapers","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/635573","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=635573"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/635573\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=635573"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=635573"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=635573"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}