EaseMyTrip let go of the bid for Go First

27 May 2024 CW Team

Nishant Pitti, the founder and CEO of EaseMyTrip Ltd., has chosen not to pursue an acquisition of the insolvent airline Go First, which is currently facing bankruptcy resolution procedures before the National Company Law Tribunal. Along with Ajay Singh, the chairman and managing director of SpiceJet, Nishant Pitti submitted a bid for Go First in February in his personal role through Busy Bee Airways Pvt. Ltd. We have made the decision to drop out of the GoAir competition in order to focus on our main competencies. In a statement on social media, Nishant Pitti stated, "Our focus remains on leveraging our expertise and resources to achieve sustainable growth and success." In addition to Singh and Pitti's combined proposal, Sky One, a Sharjah-based business that operates cargo and hires helicopters, also submitted a bid for Go First. The Delhi High Court's decision last month to let the airline's overseas lessors reclaim their aircraft dealt a severe blow to Go First's comeback and put the bidders under pressure. The low-cost airline operated by the Wadia Group filed an application for voluntary insolvency resolution proceedings before the National Company Law Tribunal in May of last year. This was due to a severe liquidity crunch that resulted in the grounding of several aircraft due to Pratt & Whitney's engines being unavailable for repair.

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