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SpiceJet’s Hobson’s choice: Wield the axe or fall deeper into trouble
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Synopsis
SpiceJet may have to take some hard decisions, as its fleet size has been reduced by one-fourth, but staff strength remains high. With Akasa Air hot on its heels, a lot will depend on when the second tranche of INR200 crore funding comes in.
2017. Delhi was reeling from yet another smoggy winter. As the Sun finally smiled through the haze, SpiceJet chairman Ajay Singh told a packed hall overlooking Taj Mansingh hotel’s sparkling pool that the budget airline had placed a record USD11 billion order to procure 100 Boeing 737-MAX planes. Having been outsmarted by Airbus on orders from India, Boeing vice-chairman Ray Conner had specially flown down even though the New Year holidays had
( Originally published on Feb 12, 2024 )
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