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BusinessMajor Player Pulls Out of Bid to Acquire Grounded Indian Carrier Go...

Major Player Pulls Out of Bid to Acquire Grounded Indian Carrier Go First

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The bidding process to acquire Go First, the airline that ceased operations last year, has seen a major development with one of the key bidders withdrawing their offer. Busy Bee Airways, majority owned by EaseMyTrip founder Nishant Pitti, has pulled out of the contested bid for the insolvent carrier.

In a statement released yesterday, Pitti explained that after careful consideration he decided it was best to remove Busy Bee Airways from the process. The travel entrepreneur said this will allow him to focus his energy on other strategic initiatives that are more aligned with his long-term goals for growth.

It’s worth noting that just over three months ago, Busy Bee Airways had jointly placed a bid for Go First along with industry veteran Ajay Singh. However, recent events appear to have altered Pitti’s perspective. This includes the Delhi High Court order last month that permitted leased aircraft from Go First to be repossessed by lessors.

The withdrawal of Busy Bee Airways leaves only one remaining challenger – Sky One FZE, a company based in Sharjah. It remains unclear if Ajay Singh will continue pursuing the bid independently. Go First ceased flying in May 2023 due to ongoing issues with its Pratt & Whitney engines, eventually leading to the bankruptcy process now underway.

Northlines
Northlines
The Northlines is an independent source on the Web for news, facts and figures relating to Jammu, Kashmir and Ladakh and its neighbourhood.

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