SpiceJet: A turnaround saga

SpiceJet will be supporting the Regional Connectivity Scheme by launching new routes and inducting more aircraft, says Kamal Hingorani, Senior Vice President and Head of Inflight Services & Customer Experience, SpiceJet.

With highest Passenger Load Factor (PLF) continuously for months and the following profits, SpiceJet has risen like a phoenix after it was about to shut shop in late 2014. Hingorani says, “On December 14, 2014, SpiceJet had almost shut down. Typically any airline of our size, which had shut down for a day anywhere in the world for the want of funds has not seen the light of the day. I think SpiceJet has been an exceptional turnaround story and the scriptwriter for that has been our chairman Ajay Singh, who, at that time, took over the reins of a defunct airline. Today I am proud to say that we’ve had six profitable quarters back to back. We have had the highest load factor in the country for 15 months in a row and that too above 90 per cent, which in itself is historic in Indian aviation.”

Hingorani was all praises for the National Civil Aviation Policy, saying that it is very progressive and dy- namic in nature. “There are two pillars of the policy — one is Regional Connectivity Scheme (RCS) and the other is the development of 100 airports, both of which are going to be game-changers for attaining the target for growing the domestic travel by six to seven times in the next six years. There is one concern with regards to RCS — if we have to sustain this kind of growth, we need to make sure that we have enough airports and infrastructure available, and the existing airports must have the enhanced infrastructure to accommodate this kind of traffic growth. Today, all airlines put together globally have been more profitable than in the last 50 years and in the current fiscal it’s expected to be better than last year. As per IATA, the profitability would be 8.2 per cent. With this kind of growth, there will be more players coming into aviation, cheaper funding will be available for buying the aircraft and other resources.”

Hingorani claimed that SpiceJet is ready to become an important stakeholder in assisting MoCA in moving forward. “We have already started increasing the connectivity. We’ve recently started two more routes in the North East. With more connections, there has to be a huge addition of aircraft. Our Chairman has already announced to bring in more aircraft starting next year.”

We have already started increasing the connectivity. We’ve recently started two more routes in the North East. Kamal Hingorani Services & Customer Experience, SpiceJet, India Travel Award winner