Bankrupt Indian airline Go First gets two financial bids, say bankers TradingView
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Category: Go Air
GoFirst Acquisition Bids Open: Potential Suitors and Controversies Emerge
Friday, February 23, was a pivotal day for GoFirst, the grounded airline backed by the Wadia group, as bids for its acquisition were opened. The airline, its lenders, and other stakeholders are eagerly anticipating the outcome of the bidding process, which will determine the future of the company. Currently, two entities have shown interest in acquiring GoFirst: Ajay Singh, in partnership with Nishant Pitti of EaseMyTrip’s Busybee Airways, and Sharjah-based Sky One. Ajay Singh, a…
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Bids for bankrupt Go First set to open on February 23 as lenders search for suitors: Reports
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Bids for the bankrupt airline Go First will be opened today as lenders search for a buyer. The Go First lenders and the committee of creditors are meeting today to review the bids. Sources told CNBC-TV18 that lenders and the IRP will open the bids during the meeting.
CNBC TV18 reported last week that SpiceJet’s CMD…
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Our priority is to first stabilise Go First, says Sky One chairman
Our priority is to first stabilise Go First, says Sky One chairman
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Nishant Pitti’s buy-and-sell plan for Go First
The EaseMyTrip CEO has formed an unlikely partnership with SpiceJet’s Ajay Singh to buy the grounded airline. Their bid has evoked interest and a question: will it work?What should one do when a bankrupt company owes you money and there’s little chance of getting any of it back? Would you rather buy it out?
For Nishant Pitti, chairman and chief executive officer of Easy Trip Planners, which operates travel portal EaseMyTrip, the answer is yes.
Go First, the former Wadia group airline…
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Source: https://themorningcontext.com/business/nishant-pittis-buy-and-sell-plan-for-go-first
Why Ajay Singh of troubled SpiceJet seeks redemption in bankrupt Go First
SpiceJet promoter and chairman Ajay Singh is known as a turnaround man. Nearly 20 years ago, he bought an airline, ModiLuft, which had been dead for close to a decade, renamed it, and turned it into a successful low-cost carrier, SpiceJet. He sold most of his stake in SpiceJet in 2010 to media baron Kalanithi Maran’s Sun Group, and soon exited by selling the remaining stake too. In a few years, SpiceJet turned into a loss-making, debt-ridden, dying airline. Despite advice by friends to keep…
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Race for Go First: Why Ajay Singh thinks cash-strapped SpiceJet can revive Wadia’s bankrupt airline.
SpiceJet promoter Ajay Singh and EaseMyTrip co-founder Nishant Pitti’s Busy Bee Airways last week submitted a bid for Go First; picture collage by Sadhana Saxena.SynopsisSpiceJet chairman Singh and Nishant Pitti-led Busy Bee Airways’ bid, according to sources, is a far cry from the valuation Go First was seeking during its heydays when it was planning for an IPO. However, industry experts believe that the airline can be a great asset if it can be quickly acquired and flown again.9 mins…
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SpiceJet Submits Joint Bid To Acquire Troubled Carrier Go First
Go First has been grounded since May 3 (File).New Delhi: SpiceJet promoter Ajay Singh has submitted a bid – with Busy Bee Airways Pvt Ltd – to acquire the troubled Go First carrier, the airline said Friday. The bid, filed earlier today, is a “significant strategic move (with the) potential to reshape the landscape of the Indian aviation sector”, SpiceJet said.The bid has been submitted by Mr Singh in his personal capacity, the airline said.Under the terms of the offer, SpiceJet will be the…
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A New Chapter in Indian Aviation
In the skies of Indian aviation, a new chapter might be unfolding as key industry players, including SpiceJet promoter Ajay Singh and EaseMyTrip co-founder Nishant Pitti, step forward with ambitious bids to revive the grounded budget carrier GoFirst. Amidst a challenging landscape that has seen the airline suspend operations since May 2022 due to financial woes, these bids shine a beacon of hope, not only for GoFirst but also for…
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Source: https://bnnbreaking.com/finance-nav/bold-bids-to-revive-gofirst-a-new-chapter-in-indian-aviation
Sky One joins bidding war with SpiceJet CMD & Busy Bee Airways for GoFirst
New Delhi, Feb 16 (IANS) Sky One, an aviation company headquartered in Sharjah — besides Chairman and Managing Director of SpiceJet, and Busy Bee Airways Private Limited — has also submitted the bid for cash-strapped GoFirst on Friday. Advertising AdvertisingA SpiceJet airline official said that the bid has been submitted by Chairman and Managing Director Ajay Singh, in his personal capacity, along with Busy Bee Airways Private Limited.Sky One Chairman Jaideep…
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