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.

SpiceJet Ltd. Chairman Ajay Singh wants to expand the company’s fleet of passenger jets and cargo haulers as the Indian airline’s financial performance recovers after a punishing stretch during the pandemic.
 

Singh said the no-frills carrier has a “reasonable chance” of reaching break-even this quarter through December thanks to a combination of cost cuts, renegotiated aircraft leases, an uptick in air travel traffic in India and the growth of the company’s new cargo operation.

“We are easily the largest player in that space in our part of the world,” he said in an interview at an annual International Air Transport