Diminishing hopes of any resolution for grounded airline Go First which had filed for bankruptcy protection in May 2023, one of the co-bidders Nishant Pitti, Founder & CEO, EaseMyTrip.com, has pulled out from the race.
“After careful consideration, I have decided to withdraw from the GoAir [First] bid in my personal capacity,” Mr. Pitti announced on Saturday.
“This decision allows me to better focus on other strategic priorities and initiatives that align with our long-term vision and growth objectives,” he said. “Our commitment to delivering exceptional value and service remains as we continue to navigate new opportunities and challenges,” Mr. Pitti added.
In February 2024, the resolution professional of Go First received two financial bids for the erstwhile Wadia Group airline which had charged its name from Go Air to Go First.
One of the financial bids was from SpiceJet Chairman & MD Ajay Singh in his personal capacity, along with Mr. Pitti, who owns 52% in Busy Bee Airways, in his personal capacity.
Now, with Mr. Pitti withdrawing from bidding, Busy Bee Airways has also withdrawn from the the race as a result, a spokesperson said. It is not known if Mr. Singh would continue.
The second bidder is Sharjah-based Sky One. Go First resolution under the Insolvency & Bankruptcy Code (IBC) had received a set back recently when the Delhi High Court directed the Directorate General of Civil Aviation (DGCA) to deregister 54 aircraft belonging to lessors who had moved the court to take possession of their assets.
