SpiceJet: Flight to RecoveryAuthor: Soumya ChourasiaCo-Author:
Namrata Roy, Assistant Manager Marketing, RICS India Pvt Ltd.
ABSTRACT:From shutting down its oerations !or a day in "e#em$er
%&'( to showing ro!its a!ter ) *uarters, Si#e+et has #ome a
,ong way. -he !inan#ia, #run#h it !a#ed during that eriod ,ed
toredu#tion o! !,eet, #an#e,,ation o! !,ights and ayment de,ays. -o
many it seemed as i! the air,ine wou,d never !,y again and meet the
!ate o! .ing!isher Air,ines, $ut it has/ and through a series o!
time,y measures, is #,awing its way $a#k into #ustomers0 trave,
,ans.-he air,ine announ#ed a net ro!it o! Rs %%.1 #rore !or the
!ourth *uarter ending Mar#h 2', %&'( as #omared to a ,oss o! Rs
2%'.1 #rore during the same *uarter ,ast year. -he air,ine a,so
redu#ed ,osses during the F3'1 !is#a, to Rs 45).&1 #rore !rom
Rs '&&2.%( #rore during F3'(.6hat did it do7 A!ter its
!ounder8romoter A9ay Singh took the air,ine $a#k !rom its
erstwhi,emanagement, he #,eared ta: dues and sa,ary arrears whi,e
,aun#hing an aggressive sa,es and romotions #amaign. -he #omany
a,so sett,ed a,, ayment re,ated issues with air#ra!t ,essors and
made sure that sa,aries were aid on time. It re8$ui,t the !,ight
s#hedu,e and re!unded assengers whose !,ights had $een
#an#e,,ed.KEYWORDS: Si#e+et, re#overy, ro!it, dua, !,eet, strategy,
Ani, Singh, ri#e stimu,ation, ,oad !a#tor.
