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Ajay Singh, the Chairman and Managing Director of SpiceJet, recently participated in a panel discussion at the India Today Conclave 2023, along with other business leaders. The topic of discussion was 'The India Moment: Business Resilience and Crisis Compass'. The panellists shared their insights on how to survive lows and lockdowns and what it takes to bounce back and thrive in challenging times.
During the discussion, Ajay Singh talked about SpiceJet's strategy to repurpose several aircraft to export goods from India to other countries during the pandemic. This initiative helped the airline not only generate revenue but also contribute to the country's export sector. Moreover, he emphasised that SpiceJet managed to retain all its employees amid adversities, which was a significant achievement.
"The government said to us, can you please fly a plane to China and get us a PPE suit from Shanghai. When it comes here since we want to replicate it, can you please fly to Coimbatore because we have no other way to send it to Coimbatore. We had this one aircraft that just flew that one PPE suit. There was nothing in that plane but that one PPE suit," Singh said.
"SpiceJet repurposed several aircraft to export goods from India to other countries and managed to retain all its employees amid adversities," Singh added.
Singh also shared the three things he learned during the pandemic. First, to try and find opportunities in the crisis. Second, the importance of automation and third, to never presume that the worst cannot hit you.
"The demand is strong and SpiceJet has automated a lot of things and are working towards a common objective," he added.
Apart from Ajay Singh, Puneet Chhatwal, the MD and CEO of Indian Hotels Company Ltd, and Ajay Bijli, the Chairman and Managing Director of PVR Ltd, also shared their experiences on how their respective companies navigated through the pandemic and bounced back.
"We started community service for frontline workers in hospitals during the lockdown, started giving out meals, converted some hotels as isolation centres for doctors on duty," Chhatwal said.
Chhatwal also added that they are almost 30 per cent ahead in terms of profit as compared to the pandemic levels.
During the discussion, Bijli discussed the impact of the pandemic on the film industry. He noted that 2019 was a record-breaking year for box office earnings globally, but the pandemic brought their revenue to zero. He emphasized the importance of diversifying one's business and not putting all of one's eggs in one basket.
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