Race for Go First: Why Ajay Singh thinks cash-strapped SpiceJet can revive Wadia’s bankrupt airline.

Race for Go First: Why Ajay Singh thinks cash-strapped SpiceJet can revive Wadia’s bankrupt airline. — SpiceJet promoter Ajay Singh and EaseMyTrip co-founder Nishant Pitti's Busy Bee Airways last week submitted a bid for Go First; picture collage by Sadhana Saxena.

Synopsis

SpiceJet chairman Singh and Nishant Pitti-led Busy Bee Airways’ bid, according to sources, is a far cry from the valuation Go First was seeking during its heydays when it was planning for an IPO. However, industry experts believe that the airline can be a great asset if it can be quickly acquired and flown again.

By Tarun Shukla

9 mins read, Feb 19, 2024, 04:15:00 AM IST

On April 27, 2023, as the deadline for Pratt & Whitney to supply engines to Go First was approaching, the airline’s owner Nusli Wadia called a quick virtual meeting of the airline’s board. Dozens of Go First planes had been grounded because of faulty engines and the airline had requested an international arbitration court to direct the American aerospace manufacturer to provide a few engines to help it stay afloat. “He asked us what the cash

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