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Kalanithi Maran sells SpiceJet to Co-Founder Ajay Singh

Thu, Jan 15, 2015, 04:29 PM
Mumbai, Jan 15: Media billionaire Kalanithi Maran sold the struggling airline SpiceJet to its co-founder, Ajay Singh.

Ajay Singh had helped set up the low-cost carrier in 2005.

However, it is not yet clear how much Singh paid for the ailing airline to Maran.

The airline was struggling for several months. It also grounded its fleet when suppliers refused to refuel its planes.

Businessman Ajay Singh is credited with coining Prime Minister Narendra Modi's winning campaign slogan, "acche din" (good days).

Till now he owned about 5 per cent of SpiceJet.
Agency: Ap7am Desk

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