Ajay Singh

After the fundraising, Ajay Singh's shareholding in SpiceJet may drop to 30-35% from 47.8%

Citing the depreciation of their assets, the lessors sought the grounding of the airline and the return of the engines

SpiceJet Chief Ajay Singh on Wednesday said the airline will be raising around USD 250 million in the next couple of months as the budget carrier works on boosting its operations. The airline is tackling multiple headwinds, including lessor and debt woes, with Singh saying the carrier has faced "significant black swan events". "It is difficult to kill SpiceJet....and we are trying to fix the problems," he said and asserted that the airline's balance sheet will be cleaned up over the next two quarters. Recently, the airline raised USD 150 million and is looking for more funds. The airline plans to raise USD 250 million in the next couple of months and there is a bright enough future, Singh said at the CAPA India Aviation Summit in the national capital. Currently, the carrier has wet leased some aircraft as many of its planes are grounded due to various reasons. "We will grow our own fleet," Singh, the Chairman and Managing Director of the airline, said. Singh also said it is crit

KAL Airways and its promoter Kalanithi Maran have decide to challenge an arbitral award requiring SpiceJet and Ajay Singh to refund Rs 579 crore plus interest to Maran

Cash-strapped SpiceJet has resolved its third settlement in 2 weeks with Echelon Ireland Madison One, after Cross Ocean Partners and Celestial Aviation

On January 26, the first tranche of Rs 744 crore was infused into the airline. On January 11, the beleaguered airline's shareholders gave their approval to raise a total of Rs 2,241.5 crore

SpiceJet announced that it would act as the operating partner for the new airline, providing staff and services

Ajay Singh is reportedly in discussions with global private credit funds to refinance part of promoter debt and equity infusion

Singh had sought to set aside a portion of the award, which directed the airline to refund Rs 270 crore to Kal Airways and Maran

SpiceJet stock news: The stock of SpiceJet had soared 19.4 per cent last Friday, October 13, after a report had said that Gangwal was looking to buy stake in the airline

After six months of payments, SpiceJet's Ajay Singh has to pay regular instalments of $500,000 to Credit Suisse

On September 12, the apex court asked Singh to pay $500,000 towards an instalment to the Swiss firm along with a $1 million defaulted amount

Singh and his family own 46.95 per cent stake in the airline as on March 31, 2023

The court's ruling which came out on Monday stemmed from a long-running battle between the Maran family and the current promoter, Ajay Singh, and SpiceJet, over contractual obligations

'The factors behind the Go First crisis were beyond its control'

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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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

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

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