How the man behind Modi’s popular slogan resurrected SpiceJet

At the end of last year, SpiceJet—once India’s second largest airline by market share—was on the verge of shutting shop.

All its aircrafts were grounded by December 17. Lessors and debtors were knocking on the company’s doors for repayment; and oil companies refused to refuel any aircrafts in fleet.

The situation was so dire that some predicted the airline was go belly-up, like Kingfisher Airlines, once India’s second largest airline, that shut down business in 2013 after it was...

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