Just when everyone thought SpiceJet was inches away from complete closure, this business couple Preeti and Harihara Mahapatra, pledged to invest Rs. 1100 crore in the struggling airline to revive it.
SpiceJet is the second largest airline in India if we go by the number of domestic passengers it carries. The budget airline was founded on February 9, 1984, by Ajay Singh and Bhupendra S. Kansagra, and its operations commenced on May 23, 2005. Over the years, SpiceJet saw a series of ups and downs, but it was the COVID-19 pandemic that put the renowned airline in a highly problematic position.
However, SpiceJet airline still managed to pass it without being demolished like so many businesses that couldn't stand against the losses caused by COVID-19. Well, there are a series of rising issues at SpiceJet, but there's no denying in saying that financial mismanagement is one of the most significant factors behind the airline's downfall.
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In December 2023, reports were rife that SpiceJet had shown interest in buying the bankrupt airline, Go First. The reports surprised many market experts, but it's fair to say that there's a slight hope that if everything goes well, the acquisition of Go First can be a turning point for SpiceJet.
However, apart from this, some other major developments at SpiceJet's headquarters in Gurgaon, India have been in the headlines. As per multiple media reports, renowned business couple, Preeti Mahapatra and Harihara Mahapatra have decided to invest a mammoth sum of Rs. 1,100 crores in SpiceJet airline in return for a 19 per cent stake. The massive investment can help the airline in enabling fresh capacity induction and liability settlement, which has been another massive headache for SpiceJet.
As soon as the reports of Preeti Mahapatra and Harihara Mahapatra making such a huge investment in SpiceJet made to the internet, people became curious to know about the background of this biz couple, who is all set to revive the ailing airline. Well, we have assembled a series of unknown facts about their respective personal lives. So, without further ado, let's get straight into it.
Harihara Mahapatra and Preeti Mahapatra are the owners of Mahapatra Universal Limited, which is reportedly based in Gujarat. Talking about the company, it deals in a series of different sectors. From engineering, information technology, consulting, and infrastructure to consumer and retail, Mahapatra Universal Limited works to improve the quality of life of the companies they work with. With years of experience, Mahapatra Universal Limited also has three major brands under its umbrella, Sceniuz, Preeti's, and Happy Hours.
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The renowned businessman, Harihara Mahapatra has been working in a series of different sectors for the last 16 years. The way he has taken his company, Mahapatra Universal Limited, to such a prestigious position in India speaks volumes about his vision and strategic mind. As per multiple reports, Harihara holds an MBA degree and has a lot of experience in business activities related to multi-cultural backgrounds under his belt. A few months back, Harihara Mahapatra broke the headlines when he opened up about his dream project of constructing India's tallest building in Gujarat's Khajod. Although the entrepreneur is yet to reveal much information about the same, he reportedly plans to bring his idea into action in the coming years.
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On the one hand, while Harihara Mahapatra is an established name in the business sector, his wife, Preeti Mahapatra, has made a name for herself in politics, too. For the unversed, it was back in 2016 when Preeti contested the Rajya Sabha election of Uttar Pradesh on a ticket from the Bharatiya Janata Party (BJP). Although she eventually lost the election, she managed to grab a lot of headlines during the election campaign and afterwards.
In many of her older interviews, Preeti Mahapatra spoke highly of Prime Minister Narendra Modi and how he inspired her to serve the country by coming into politics. Apart from being associated with the BJP, Preeti is running Mahapatra Universal Limited with her husband, Harihara Mahapatra. From launching a series of brands globally to having a Master's degree in International Business and Export Management, Preeti also takes care of an untitled non-profit organisation.
With so much knowledge and experience under her kitty, Preeti Mahapatra is directly involved in the operations of Mahapatra Universal Limited. It will be interesting to see how Preeti and her husband, Harihara Mahapatra's enormous investment of Rs. 1,100 crores, will shape the upcoming future of SpiceJet airline.
What are your thoughts on Preeti Mahapatra and Harihara Mahapatra? Let us know.
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