Ajay Singh (entrepreneur)

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Ajay Singh is an Indian entrepreneur, co-founder and present owner of Indian low-cost airline SpiceJet.[1] As of June 2017 he holds 59.13% stake in Spicejet airlines.

Singh along with Bhupendra Kansagra acquired and rebranded ModiLuft in 2005 which was earlier owned by SK Modi and Lufthansa. Singh was a Director of SpiceJet Ltd until 27 August 2010, after which he transferred the ownership of the company to Sun Group's chairman and managing director Kalanithi Maran.[2] Maran had acquired a 38.7 percent controlling stake at Spicejet, which forced Singh to quit from the board.[1] On 15 January 2015, Singh re-acquired ownership of SpiceJet from Maran.[3] In February 2015, Singh rejoined SpiceJet as a promoter and bought a controlling stake for Rs 2.[4][5][6]

He is also actively involved with Bhartiya Janata Party. He coined the slogan "Abki baar Modi Sarkar".[7][8]

References[edit]

  1. ^ a b 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 13 March 2016.
  5. ^ "Ex-promoter Kalanithi Maran and promoter Ajay Singh start SpiceJet dogfight - The Economic Times". The Economic Times. Retrieved 13 March 2016.
  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.
  7. ^ "SpiceJet's Ajay Singh, Who Coined 'Abki Baar Modi Sarkar', Reported To Take Over NDTV; Channel Denies". Huffington Post India. 22 September 2017. Retrieved 22 September 2017.
  8. ^ "Man behind 'Ab ki baar Modi sarkaar' is Spice Jet Co- owner". The Indian Express. 20 May 2014. Retrieved 22 September 2017.