Speaking at the India Economic Summit of the WEF, he said the sector if given benefits in terms of taxation and cost, there is no reason why India will not emerge as the fastest growing aviation market in the world in the next decade.
In March, Moneycontrol had reported that SpiceJet would foray into retail space with a string of physical stores, online e-tail gateways, and in-flight merchandise.
The experts generally keep a positive on the stock, but remain slightly cautious since it has rallied 38 percent in March alone.
The low-cost carrier, promoted by Ajay Singh, will fly on 11 routes covering four unserved and two underserved airports under the first phase of the government’s Ude Desh ka Aam Nagrik (UDAN) scheme.
Leader of Opposition in Madhya Pradesh Assembly Ajay Singh on Monday urged Prime Minister Narendra Modi to remove Shivraj Singh Chouhan from the post of chief minister in the wake of CAG observations in Vyapam scam.
Representatives of domestic airlines' grouping FIA today met Union Minister Nirmala Sitharaman and raised concerns over the move to permit overseas players to establish carriers in the country.
Before SpiceJet CEO Ajay Singh revived the beleaguered airline, he coined one of the most popular election slogans.
The company will sell its own brand of products sourced from hundreds of vendors across the country and overseas. The venture will not be an aggregator like Flipkart, Amazon or Snapdeal.
Over the last 22 months, SpiceJet has been reporting load factors—industry speak for passenger capacity utilisation—in excess of 90 percent
The tax cut in aviation turbine fuel (ATF) announced by Delhi government for flights in the Regional Connectivity Scheme will help bring down costs, according to SpiceJet Chairman and Managing Director Ajay Singh.
Presenting the Delhi budget for 2017-18, Deputy Chief Minister Manish Sisodia said the cut in VAT on ATF will be applicable for direct flights between Delhi and remote areas identified under the RCS scheme as per prescribed conditions.
SpiceJet will operate daily direct flight to Dhaka from Kolkata, starting from March 23, as part of expansion of its international services.
Second largest low-cost carrier SpiceJet today reported its eighth successive profitable quarter with a profit of Rs 181.1 crore for the three months to December, down 24.5 percent from Rs 240 crore a year ago.
Pawan Goenka did show his dissapointment on one aspect, and that was the concept of Make in India. He says that although the topic of Make In India was very hot in India two years ago, the government's enthusiasm towards this initiative seems to have died down.
"To my mind, he (Trump) is negotiating... he seems to be throwing bombs in all directions and that is what is creating chaos," SpiceJet Chairman and Managing Director Ajay Singh said.
With fuel burn at 20 percent less than the existing fleet, the new airplane range will help reduce costs, said Ajay Singh, CMD of SpiceJet. The low-cost carrier, on January 13, announced a mammoth deal worth Rs 1,50,000 crore to purchase 205 aircraft from the US-based aircraft maker Boeing.
The stock has seen a steady recovery ever since chairman Ajay Singh's return in 2015. In fact, the scrip has risen around 16% in the past 15 days.
After long drawn discussions, SpiceJet is all set to announce an order for 90-100 new aircraft estimated to be worth at least Rs 55,000 crore as the no-frills carrier looks to expand its fleet.
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Indigo in its compliant to the DGCA said the mechanism is prone to manipulations and is faulty. A committee has been formed to see if the mechanism can be improvised further.
Bullish on growth prospects, budget carrier SpiceJet today said it expects to complete negotiations and place orders for new aircraft this fiscal ending March.
Spicejet CMD Ajay Singh and IndiGo President Aditya Ghosh have recently raised this issue during their meeting with Commerce and Industry Minister Nirmala Sitharaman.
Besides, shareholders have cleared the appointment of Anurag Bhargava and Harsha Vardhana Singh as independent directors of the company.
Speaking to CNBC-TV18 Ajay Singh, Chairman and Managing Director of Spicejet, said the performance of the airline has been creditable given the fact this is the weakest quarter for industry.
On a day when the government announced the final contours of the ambitious regional connectivity scheme, SpiceJet chief Ajay Singh on Friday said the government could look at other ways to fund it rather than impose "more of a tax on consumers".