Indigo: Taking wing
Sometime in 2004, airline investors Rakesh Gangwal, Rahul Bhatia and Bhulo Kansagra sat down to discuss relaunching the defunct airline Modiluft as SpiceJet. Discussions went on and on, and then, stopped abruptly. Gangwal and Bhatia parted ways with Kansagra, who went on to launch SpiceJet.
With a market valuation of Rs.4,700 crore, SpiceJet is now the fourth biggest airline in India by market share.