EaseMyTrip co-founder Nishant Pitti-backed Busy Bee Airways has informed the National Company Law Appellate Tribunal (NCLAT) that it is in discussions with Go First’s lenders to submit a bid to revive the bankrupt airline. The Delhi Bench of NCLAT is currently hearing Busy Bee’s plea challenging Go First’s liquidation order.
Busy Bee Airways stated that it has already met with lenders and plans further discussions this week. An updated proposal has also been shared, though the tribunal has not passed any order yet and has deferred the hearing to February 19. This development follows Busy Bee’s previous joint bid with SpiceJet chairman Ajay Singh, which was rejected by Go First’s resolution professional.
The National Company Law Tribunal (NCLT) had ordered Go First’s liquidation on January 20, 2025, at the request of its Committee of Creditors (CoC). This ruling concluded the airline’s 20-month-long insolvency process, which began when Go First filed for voluntary insolvency on May 2, 2023, citing financial distress. The plea was accepted by NCLT on May 10, 2023.
Busy Bee Airways now seeks permission to submit a revised resolution plan, offering a potential last-minute rescue for the low-cost carrier. Whether the tribunal allows this fresh attempt will be closely watched by industry stakeholders and creditors.
