SPICEJET: THE STORY SO FAR...
1984:
The Company was incorporated on February 9 as a private company. The business commenced on March 14. Promoted by S.K. Modi of the Modi Group of Companies.
1993:
The name of the company was changed to MG Express Ltd on February 17. The Company enters into agreement with international airlines such as Swissair, KLMRoyal Dutch Autun, Qantas airways, Air Canada, etc.
1993-1996:
ModiLuft, run by S.K. Modi and Lufthansa Airlines begin operations.
2000-2005:
Defunct Modiluft renamed as Royal Airways but never really took flight. In May 2005, Ajay Singh and Bhupendra Kansagra join hands. ModiLuft becomes Spicejet.
November 23, 1994:
The company is awarded the coveted status of a Scheduled Airline and obtains the Associate Membership of IATA.
Mid-2010:
Kalanithi Maran acquires 38.7 per cent stake. Ajay Singh quits board.
August 2008:
Wilbur Ross, the distressed assets buyer, acquires a controlling stake in Spicejet.
March 2012:
SpiceJet records loss of
249 crore in Q4 due to rising fuel cost. In August 2013, CEO Neil Mills quits.
2015:
On January 30, SpiceJet board approves 1,500 crore share sale. Maran exits the board. In February 24, 2015,
Ajay Singh is back as promoter. In October, SpiceJet initiates major network expansion with six new aircraft.
March 2016:
On September 7, SpiceJet doubles net profit to 149 crore in Q1 FY2017 On November 25, SpiceJet doubles net profit to 58.9 crore in Q2 FY 2017 On December 19, SpiceJet dominates Indian aviation with highest OTP & PLF in November 2016.
2017:
On January 13, SpiceJet inks mega deal with Boeing for up to 205 jets biggest order in airline’s history. On June 12, SpiceJet takes-off on UDAN routes.
2017:
On June 19, SpiceJet and Boeing announce commitment for forty 737 MAX airplanes. In September 29, SpiceJet signs order for up to 50 Bombardier Q400s. In December, SpiceJet conducts seaplane trials in Mumbai.
2018:
In January, SpiceJet is awarded 17 proposals and 20 new sectors under the second round of bidding for UDAN. On March 9, SpiceJet gets India’s ‘Best Domestic Airline’ Award at Wings India 2018. On March 10, SpiceJet and CFM sign $12.5 billion engine/ services deal.