New Delhi: To reduce overall costs, SpiceJet is re-negotiating contracts related to aircraft lease, engineering, maintenance and other areas as some of the pacts are "out of sync" with realities, airline's chief Ajay Singh said.
After grappling with turbulent times a year ago, SpiceJet is on the path of turnaround and has remained profitable for four straight quarters.
Satisfied with the progress made by SpiceJet in improving its financial performance, Singh said the focus is now on reducing "big ticket costs".
"We are working on ways to reduce the cost of (aircraft) leasing, engineering and maintenance, among other areas. In this regard, we are re-negotiating contracts that were entered into the past as some contracts are out of sync with realities," Singh told PTI in an interview.
Singh, who is the Chairman and Managing Director of SpiceJet, came back at the helm amid concerns in late 2014 over the survival of the airline bogged down by debt woes.
To Read the News in Full 27/01/16 PTI/Economic Times
After grappling with turbulent times a year ago, SpiceJet is on the path of turnaround and has remained profitable for four straight quarters.
Satisfied with the progress made by SpiceJet in improving its financial performance, Singh said the focus is now on reducing "big ticket costs".
"We are working on ways to reduce the cost of (aircraft) leasing, engineering and maintenance, among other areas. In this regard, we are re-negotiating contracts that were entered into the past as some contracts are out of sync with realities," Singh told PTI in an interview.
Singh, who is the Chairman and Managing Director of SpiceJet, came back at the helm amid concerns in late 2014 over the survival of the airline bogged down by debt woes.
To Read the News in Full 27/01/16 PTI/Economic Times
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