Podcast with Ajay Singh, CEO of SpiceJet, on How He Turned Around a Loss Making Airline
How do you turn around a business that incurs a loss of Rs.3 crore a day, into one that makes a profit of Rs.1 crore, every single day? The quest for answers to this single question led me on a hunt to meet up with Ajay Singh, the CEO of SpiceJet and get the answers straight from him.
I was amazed that with absolutely no background in the aviation industry, he decided to buy ModiLuft a company that even Lufthansa airlines failed to run. When the Maran brothers of the SunTV fame bought the company from him, they drove the company to near bankruptcy. Ajay Singh bought back the company and turned it around to be one of the most profitable airlines in India? I asked him how and he replied, “Well, we were all young and foolish, and at that point, you feel like you can do anything,” he laughs, adding, “But I did fundamentally believe that there was a market and there was talent to run a business of this sort.” He delves deeper into his turnaround experience and shares a lot more details in the podcast.
Ajay was also the brain behind Narendra Modi’s election-winning slogan, ‘Ab Ki Baar, Modi Sarkar’.
Do listen to the podcast to peek into the wonderful mind of one of India’s savviest businessman.