TBM Staff - Mumbai
Following the Delhi High Court’s decision to allow lessors to reclaim 54 aircraft leased to bankrupt Go First, Nishant Pitti, representing joint bidder Busy Bee Airways, stated on Friday that they would review the court order and consider adjustments to their proposed offer for the airline accordingly.
Busy Bee Airways, in collaboration with SpiceJet’s Ajay Singh, has submitted a bid for Go First as part of the insolvency resolution process. Nishant Pitti, who is the majority shareholder in Busy Bee Airways and also the co-founder and CEO of travel portal EaseMyTrip, shared this update.
The court’s directive on Friday instructed the Directorate General of Civil Aviation (DGCA) to promptly process the applications submitted by various lessors seeking deregistration of the 54 aircraft leased to Go First, enabling them to reclaim their assets from the financially distressed airline.
In a statement shared on X on behalf of Busy Bee Airways, Pitti mentioned, “We will review the details of the order once we receive the official document.” He further added that upon assessing the court order, they would evaluate their position and make any necessary adjustments to their proposed offer for Go First.
Pitti reiterated their commitment to navigating the process in accordance with legal requirements and their strategic objectives. Go First ceased operations on May 3, 2023, following which its plea for voluntary insolvency resolution proceedings was accepted by the National Company Law Tribunal (NCLT) on May 10 last year.
The court’s directive mandates the DGCA to expedite the deregistration process for the leased aircraft within five working days, underscoring the urgency of the situation for the lessors involved.
