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Ajay Singh, chairman and managing director of low-cost airline SpiceJet, has described the aviation sector as "not doing well" due to the Russia-Ukraine war which has led to oil supply and demand issues.
Singh said that he is eagerly looking to sell his stake in the airline through multiple channels. Speaking to ANI during the roundtable meeting of the CEOs of trade body Assocham on Tuesday, Singh said, "Not only with SpiceJet. I think you can't say all is well in all the airlines in the world today. We are ensuring that we become stronger with time. Hopefully, oil prices are coming down and as we have seen demand is picking up and new aircraft will join SpiceJet fleet soon. We are on our way to a better future." In addition, Ajay Singh described the aviation sector as not doing well due to the Russia-Ukraine war in terms of oil supply and demand issues. "Russia-Ukraine war impacted everywhere around the world because of oil prices had gone up to a level which is completely unheard of and jet fuel prices as a consequence have gone up not on the record levels... to the state that jet fuel now contributes 70 to 80 per cent of airline revenues.. and so, therefore, of course, it has impacted gravely and in a very, very damaging manner," the SpiceJet CMD told ANI. Recently we have seen reports that SpiceJet planes and its lessors have a problem and some of the pending dues with the Airports Authority of India (AAI) are a matter of concern for India's low-cost carrier SpiceJet, but the airline CMD clearly stated that all the ongoing issues have been resolved. "These are the ongoing issues just as we have always found settlement with all our partners all settlements with every single lessor were done," Singh told ANI. Earlier, SpiceJet had announced that the company has also entered into an agreement with aircraft lessor Goshawk Aviation Limited and its affiliated leasing entities and others. On issues of reporting malfunctions in daily operations, SpiceJet's CMD clarified that SpiceJet is safe to fly, including all Indian airlines. "Spicejet is an extremely safe airline in fact all airlines in the country are extremely safe. I think in the last 15 or 20 days you probably heard of fewer snags. Few snags have been reported but minor snags are part and parcel of this industry not only in India but all over the world but my message to the passengers is that Indian airlines and Indian aviation ecosystem are extremely safe," Singh told ANI. This year in April 2022, India's aviation regulator Directorate General of Civil Aviation (DGCA) barred almost 90 pilots of the airline from operating Boeing 737 MAX aircraft because they were not properly trained. As per DGCA official, "Those pilots were trained on a faulty simulator, and the aviation regulator asked the airline to retrain the pilots, in addition to a fine of Rs 10 lakh." (ANI)
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