Saving SpiceJet: Promoter Ajay Singh faces his toughest challenge

With a series of default notices and sceptical banks, the promoter has a formidable challenge

Earlier this week, Civil Aviation Secretary Pradeep Singh Kharola called airline executives to his office to discuss what additional safety measures could be taken in view of the second wave of Covid-19.

While airlines made varied demands ranging from a bailout to stricter control over predatory pricing, the SpiceJet representative had an unusual suggestion: Curb capacity deployment to 60 per cent from the current 80 per cent, which was announced by the government a few weeks back. 

The demand was unusual as airlines usually avoid regulatory control over what is purely a commercial decision as it hinders the ability of tweaking route