The World's Top Airline Stock Is SpiceJet With 124% Advance
- Indian carrier’s shares have outperformed global peers in 2017
- Chairman Ajay Singh says stock is ‘greatly undervalued’
Ajay Singh, SpiceJet's chief executive officer, discusses the company's growth potential and the U.S. travel ban with Bloomberg's Vonnie Quinn and Anna Edwards on 'Bloomberg Markets.' (Source: Bloomberg)
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Two and a half years after SpiceJet Ltd. was forced to ground its entire fleet on its inability to pay a mere $2.2 million in fuel bills, the budget airline has become the world’s best-performing airline stock -- with $26 billion in plane orders to boot.
The company’s co-founder and Chairman Ajay Singh has played the white knight, injecting capital, cutting loss-making routes and aggressively adding capacity in one of the world’s fastest growing markets. To top it all off, crude prices are staying low.