SpiceJet’s MD Confirms Joint Bid with Busy Bee Airways to Acquire Go First

Ajay Singh, Chairman and Managing Director of SpiceJet, has officially confirmed his involvement in a joint bid with Busy Bee Airways Private Limited (BBAPL) to acquire the insolvent carrier Go First. This development has sparked considerable interest in the Indian aviation sector, with Sharjah-based Sky One also submitting a bid for Go First, highlighting the competitive nature of the acquisition process.

In a detailed filing with the Bombay Stock Exchange dated February 16, SpiceJet outlined the strategic significance of this bid, emphasizing its potential to dramatically transform the Indian aviation landscape and catalyze growth for SpiceJet. Singh, participating in the bid in his personal capacity, sees this move as a pivotal opportunity to leverage Go First’s assets, including valuable airport slots, international traffic rights, and a significant order book for Airbus aircraft, to benefit both airlines.

Singh’s vision for the revitalized Go First is to operate in synergy with SpiceJet, capitalizing on the combined strengths of both carriers to enhance operational efficiencies and drive growth. The plan involves SpiceJet acting as the operating partner for the relaunched Go First, bringing its expertise and resources to bear across various domains such as maintenance, ground handling, and engineering.

Nishant Pitti, the co-founder and CEO of EaseMyTrip and the majority shareholder of Busy Bee Airways, is also actively involved in this bid, highlighting the collaborative effort aimed at revitalizing Go First for the benefit of employees, creditors, and other stakeholders. BBAPL, based in Delhi, is identified as a key player in this strategic acquisition, demonstrating the broad-based support for the bid.

Sky One’s Chairman Jaideep Mirchandani’s confirmation of their separate bid for Go First underscores the attractive prospects of growth within the Indian aviation market. Mirchandani’s confidence in the acquisition reflects Sky One’s extensive global aviation experience and its commitment to leveraging Go First’s potential.

This unfolding scenario underscores the dynamic and competitive nature of the Indian aviation industry, as key players vie to capitalize on strategic opportunities presented by Go First’s situation. With significant implications for market positioning and growth, the outcome of these bids will be closely watched by industry observers and stakeholders alike.