Ajay Singh, chairman and MD of SpiceJet, calls himself a survivor. He bought ModiLuft in 2005 and turned it into SpiceJet. The budget airline faced turbulent times in January 2015, and once again, it was Singh who revived the outfit. A decade later, SpiceJet is at a similar crossroads again. Singh's resilience remains unchanged, but now the odds are stacked against him too. The cover story of Forbes India's latest issue looks into the depth of these challenges and Singh's survival strategies.