Go First: Busy Bee Airways to evaluate position after reviewing court order

With the Delhi High Court allowing lessors to take back 54 planes leased to bankrupt Go First, joint bidder Busy Bee Airways’ Nishant Pitti on Friday said he will consider any necessary adjustments to its proposed offer for the airline after reviewing the court order.

Busy Bee Airways, along with SpiceJet chief Ajay Singh, has put in a bid for Go First under the insolvency resolution process. Travel portal EaseMyTrip’s co-founder and CEO Nishant Pitti is a majority shareholder in Busy Bee Airways.

On Friday, the court directed the Directorate General of Civil Aviation (DGCA) to forthwith process the applications filed by several lessors for deregistration of their 54 planes so that they could take them back from the crisis-hit Go First airline.

In a post on X, saying it is on behalf of Busy Bee Airways, Pitti said, “We will review the details of the order once we receive the official document”.

Following this review of the court order, it will evaluate the position and consider any necessary adjustments to the proposed offer for Go First.

“Our commitment remains to proceed in a manner that respects the legal process and aligns with our strategic objectives,” he said in the post.

Go First stopped flying on May 3, 2023, and its plea for voluntary insolvency resolution proceedings was admitted by the National Company Law Tribunal (NCLT) on May 10 last year.

The court, on Friday, directed the Directorate General of Civil Aviation (DGCA) to forthwith process the applications filed by several lessors for deregistration of their 54 planes leased to Go First and said the process shall be done in not later than five working days.

First Published: Apr 26 2024 | 11:28 PM IST