SpiceJet’s mid-air malfunctions add to the airline’s financial woes.

For frequent technical glitches, SpiceJet is now being investigated by India's aviation safety regulator, the DGCA.

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SpiceJet Ltd. staged one of the most remarkable turnarounds in global aviation history in 2015, after founder Ajay Singh stepped in at the eleventh hour to save it. Less than a decade later, the Indian budget airline needs a new lease on life. SpiceJet Ltd. staged one of the most remarkable turnarounds in global aviation history in 2015, after founder Ajay Singh stepped in at the eleventh hour to save it. Less than a decade later, the Indian budget airline needs a new lease on life. SpiceJet, once an investor darling, is now Asia’s worst-performing airline stock, battling a wave of negative publicity caused by a slew of seemingly innocuous but frequent technical glitches. The airline has also delayed releasing quarterly results for the three months ended March 2022, citing a ransomware attack on its servers, despite a surge in domestic demand. It has also reportedly fallen behind on statutory dues.

SpiceJet, known for naming its planes after aromatics used to flavour food, has struggled in India’s cutthroat aviation market, where fierce price wars led to razor-thin margins even before the pandemic. Covid-19, which destroyed travel, dealt a potentially fatal blow to many carriers worldwide, including SpiceJet, by drying up their primary revenue source. “Unless SpiceJet injects fresh funds, it will be difficult for them to survive,” said Harsh Vardhan, chairman of New Delhi-based Starair Consulting and former head of Vayudoot, a now-defunct Indian regional carrier that was merged with Indian Airlines in the 1990s. Repeated technical failures have “shaken public confidence. When people keep reading about SpiceJet’s missed payments to airports and oil companies, forward bookings diminish,” he said.“Unless SpiceJet injects fresh funds, it will be difficult for them to survive,” said Harsh Vardhan, chairman of New Delhi-based Starair Consulting and former head of Vayudoot. This now defunct Indian regional carrier was merged with Indian Airlines in the 1990s. Repeated technical failures have “shaken public confidence. When people keep reading about SpiceJet’s missed payments to airports and oil companies, forward bookings diminish,” he said.

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