SpiceJet is a domestic low cost airline promoted by Ajay Singh and Sanjay Malhotra. It began its operations on 23rd May 2005. SpiceJet was earlier known as Royal Airways. Its fleet consists of 11 Boeing 737-800 aircrafts and flies to 15 destinations in India. It has achieved a domestic market share of over 8 per cent. The ethos of the Company is to offer lowest air fares to its guests and provide safe, reliable and quality service of flying them between two points.
Foreign international investors in SpiceJet include Dubai-based Isthithmar (private equity arm of the Dubai Government) and Citigroup. Ewart Investments, a division of the major Indian conglomerate, the Tata Group, acquired a 6% stake in Jan-07.