Ajay Singh (entrepreneur)

Ajay Singh is an Indian entrepreneur, co-founder and present owner of Indian low cost airline SpiceJet.[1] Mr. Singh served as a Director of SpiceJet Ltd until August 27, 2010 after which he transferred the ownership of the company to Sun Group's chairman and managing director Kalanithi Maran.[2] On 15 January 2015, he again re-acquired the ownership of SpiceJet from Kalanithi Maran for Rs 2.[3]

Career

Singh along with Bhupendra Kansagra acquired and rebranded ModiLuft in 2005 which was earlier owned by SK Modi and Lufthansa. In August 2010, Kalanithi Maran acquired the 38.7 percent controlling stake at Spicejet which forced Singh to quit from the board.[1] In February 2015, Ajay Singh joined SpiceJet again as a promoter and bought controlling stakes for Rs.2.[4][5][6]

References

  1. 1 2 Hector Thomas, Dearton (13 March 2015). "Can promoter Ajay Singh resurrect SpiceJet?". The Economic Times. ET Bureau. Retrieved 29 June 2015.
  2. ↑ "Executive Profile - Ajay Singh". Bloomberg Businessweek. Retrieved 26 January 2015.
  3. ↑ Kaushik, Manu (18 January 2015). "On a wing and a prayer". Business Today. Retrieved 26 January 2015.
  4. ↑ "Ajay Singh bought SpiceJet for Rs 2, ex-owner Maran says in plea". Retrieved 2016-03-13.
  5. ↑ "Ex-promoter Kalanithi Maran and promoter Ajay Singh start SpiceJet dogfight - The Economic Times". The Economic Times. Retrieved 2016-03-13.
  6. ↑ Sinha, Saurabh (17 April 2015). "I am back at SpiceJet for long run: Ajay Singh". The Times of India. TNN. Retrieved 29 June 2015.
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