With the fortunes of India based SpiceJet moving up again, its main supporter and chairman Ajay Singh will look into putting more money into an expansion of the fleet, even as he is exploring a number of options for investment.
Singh is one of the original co-founders of the airline. Thus far, he has invested large sums of money into the no-frills carrier since he took back control in December of last year after a huge crisis hit the business.
Under a plan to boost its fortunes, SpiceJet’s most important priority at this time is to regain the consumer confidence further before embarking on an expansion of the fleet, said the Singh.
Singh said that the airline had been in a stage where it was actually closed, so the focus at this point is getting consumer confidence online for at least the next few months.
Singh said the airline was on the way up and requirements of funding depended on the amount the company actually needs, while adding that additional money would be used to expand its fleet.
He also said that certain investors still showed an interest in SpiceJet and he was continuing to look at all his options of investment. Under the airline’s revival plans, Singh would be adding more money with or without any other investment money be added from the outside.
Singh, who is now the managing director and the airline’s chairman said the expansion of the fleet was a top priority. Currently the airline wants to add between six and seven new aircraft to the fleet prior to the end of fiscal year 2015-16.
After completing 10 years in the industry, SpiceJet unveiled its new brand and new slogan that is “SpiceJet is different, It is Red, Hot and Spicy.”
In addition, the airline has also unveiled a new mobile app and expects that it will see a meaningful increases in the amount of bookings that will take place through the new app.