May 19, 2017 TnH Global

Most Outstanding Global Aviation Turnaround Ajay Singh, Chairman & Managing Director, SpiceJet

There are few entrepreneurs in the world with such an exceptional business acumen and ability to turn around loss-making ventures into gold mines within a short span of time. Ajay Singh, Chairman & Managing Director of SpiceJet is one of such rarest entrepreneurs, who has made many dying ventures take a re-birth and scale new heights of success. The list includes SpiceJet, Modiluft, Delhi Transport Corporation (DTC) and Doordarshan. Singh is also credited for coining the monumental ‘Abki Bar Modi Sarkar’ slogan.

A man of genius, Singh is a master of taking the right decisions at the right time. Singh joined SpiceJet for the second time in January 2015. In December 2014, SpiceJet was going through a turbulent time and was on the verge of being shut down. Almost bankrupt, SpiceJet had cancelled hundreds of their flights. When everyone had lost hope and its demise looked inevitable, Singh, one of the co-founders, decided to step in once again and bought controlling stake in SpiceJet and gave it a new lease of life, thus, emerging as the white knight for the airline that he had co-founded in 2005. Today SpiceJet has a market share of approximately 13.1%, and operates 340 daily flights to 46 destinations including seven international destinations.

Singh has also demonstrated his ingenuity in areas other business. A key part of the BJP’s successful election campaign 2014, Singh is also credited for coining the campaign’s popular and enduring slogan ‘Abki baar Modi Sarkar’ that swung the country’s popular mood decisively in favour of the BJP, with the party getting historical mandate in the elections.

Owing to Singh’s leadership skills and strong business acumen, SpiceJet has not only outperformed industry in operational parameters but also received multiple accolades from across the globe including the ‘World Travel Leaders Award’ at the WTM London. A first generation entrepreneur, Singh earlier took up the challenge of turning around the grounded ModiLuft airline in 2004. After buying the defunct ModiLuft, London-based NRI, Bhupendra Kansagra requested Singh in 2004 to join ModiLuft. Singh joined ModiLuft and bought 20% stake of the company. He was given complete management control of the company to run the airline. Singh renamed the ModiLuft airline as SpiceJet and gave it a new life. In the next couple of years, SpiceJet became one of the leading low-cost carriers in India. In 2010, Singh sold out his stake in SpiceJet and exited the airline.

While serving as the OSD to then I&B minister Pramod Mahajan during the earlier NDA government led by former PM Atal Bihari Vajpayee, Singh was credited for revamping the national broadcaster Doordarshan (DD) and played a key role in the launch of DD Sports and DD News Channels. Singh is also credited with revamping and turning around the Delhi Transport Corporation (DTC) in late 90s. With his knack to save ailing businesses, Singh, the white knight of Spice Jet, is unquestionably a man to reckon with.