Spicejet
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| Founded | 2005 | ||||||
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| Commenced operations | 18 May 2005 | ||||||
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| Fleet size | 45 | ||||||
| Destinations | 45 | ||||||
| Company slogan | Red. Hot. Spicy. | ||||||
| Headquarters | Gurgaon, Haryana, India | ||||||
| Key people |
Ajay Singh (MD) |
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| Revenue |
 US$ 795.25 million (2015) |
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| Net income |
 US$ 101.52 million (2015) |
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| Total assets |
US$ 474.45 million (2015) |
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| Employees | 4,185 (2015) | ||||||
| Website | spiceJet.com | ||||||
Ajay Singh (MD)
Kiran Koteshwar (CFO)
SpiceJet is a low-cost airline headquartered in Gurgaon, India. It is the fourth largest airline in the country by number of passengers carried, with a market share of 12.9% as of October 2016. The airline operates 306 daily flights to 45 destinations, including 39 Indian and 6 international destinations from its hubs at Delhi, Kolkata and Hyderabad.
Established as air taxi provider ModiLuft in 1994, the company was acquired by Indian entrepreneur Ajay Singh in 2004 and re-christened as SpiceJet. The airline operated its first flight in May 2005. Indian media baron Kalanidhi Maran acquired a controlling stake in SpiceJet in June 2010 through Sun Group which was sold back to Ajay Singh in January 2015. The airline operates a fleet of Boeing 737 and Bombardier Dash aircraft.
The origins of SpiceJet can be tracked back to March 1984 when the company was established by Indian industrialist S. K. Modi to provide private air taxi services. On 17 February 1993, the company was named as MG Express and entered into technical partnership with the German flag carrier Lufthansa. The airline provided passenger and cargo services under the name of Modiluft before ceasing operations in 1996.
In 2004, the company was acquired by Ajay Singh and the airline planned to restart operations as SpiceJet following the low-cost model. SpiceJet leased two Boeing 737-800 aircraft in 2005 and planned to order 10 new aircraft for expansion. SpiceJet opened bookings on 18 May 2005 and the first flight was operated between Delhi and Mumbai on 24 May 2005. By July 2008, it was India's third-largest low-cost carrier in terms of market share after Air Deccan and IndiGo. Indian media baron Kalanidhi Maran acquired 37.7% stake in SpiceJet in June 2010 through Sun Group. The airline ordered 30 Boeing 737-8 aircraft worth US$2.7 billion July 2010 and a further 15 Bombardier Q4 Dash short-haul aircraft worth US$446 million in December 2010.
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