The Indian press has applauded the turnaround of SpiceJet, which has succeeded in resuming profitable flights less than three years after it was forced to ground its entire fleet on its inability to pay $2.2 million in fuel bills. The airline was rescued by the company’s co-founder and Chairman Ajay Singh, who injected capital, cut loss-making routes and aggressively added capacity. As a result, SpiceJet shares are the best performers on a Bloomberg Intelligence index of airline stocks this year. The stock is up 124 per cent in 2017 and has gained more than 800 per cent since the company’s

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