Go First gets ₹7K cr joint bid from Ajay Singh, Busy Bee
Mint Mumbai|February 24, 2024
SpiceJet boss Ajay Singh and Busy Bee Aviation have submitted a joint ₹7,000 crore rescue plan for bankrupt airline Go First, two people aware of the development said.
Anu Sharma
Go First gets ₹7K cr joint bid from Ajay Singh, Busy Bee

Go First's committee of creditors (CoC) on Friday discussed this bid, as well as a rival bid from Sky One, the people cited above said on condition of anonymity.

"The joint bid by Singh is higher than the other party (Sky One). The committee of creditors will announce their decision in 15 days after further discussion and assessment," one of two people said. Sky One's bid amount could not be ascertained.

The Go First rescue attempt received a fresh lease of life last week after receiving two bids.

The carrier, which has been grounded since May 2023, has been undergoing an insolvency process since then. SpiceJet chairman and managing director Singh submitted his bid jointly with Busy Bee Aviation. Nishant Pitti, co-founder of online travel platform EaseMyTrip, has a 51% stake in Busy Bee Aviation, while the remaining 49% stake is held by local investors.

هذه القصة مأخوذة من طبعة February 24, 2024 من Mint Mumbai.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة February 24, 2024 من Mint Mumbai.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

المزيد من القصص من MINT MUMBAI مشاهدة الكل
India's economic performance is pretty robust on most counts
Mint Mumbai

India's economic performance is pretty robust on most counts

The economy's back on its high-growth path and fiscal consolidation is on track but our labour market remains a concern

time-read
3 mins  |
October 31, 2024
Mint Mumbai

We should be more receptive to paradigm-shifting ideas

Do we really have free will? Our brains are not wired to accept radical thoughts easily but we must try

time-read
3 mins  |
October 31, 2024
We need to invest in nature for the sake of humanity's future
Mint Mumbai

We need to invest in nature for the sake of humanity's future

Money must flow into what saves rather than harms biodiversity

time-read
3 mins  |
October 31, 2024
Is gold worth its weight amid our demat assets?
Mint Mumbai

Is gold worth its weight amid our demat assets?

It has been a buzzy buy in recent times, with its price soaring over the past year. Investors, however, are likely to be better served by going for intangible forms of this precious metal

time-read
2 mins  |
October 31, 2024
Mint Mumbai

The country needs to map its informal economy better

We need more accurate data on enterprises that play a major role in employing people

time-read
3 mins  |
October 31, 2024
Mint Mumbai

Some states have started to slip off their fiscal correction paths

Populist outlays and capital expenditure have widened their budget deficits. They must tighten up

time-read
3 mins  |
October 31, 2024
How a businessman in his 50s went gung-ho on MFs
Mint Mumbai

How a businessman in his 50s went gung-ho on MFs

From telecom retail to mutual fund: SIPs have bridged Singh's post-covid business slowdown

time-read
4 mins  |
October 31, 2024
Principal disabled? Know your PoA rights
Mint Mumbai

Principal disabled? Know your PoA rights

My father has been in coma following an accident. He had granted me a power of attorney (PoA) to manage his money, but the PoA has no specified duration. Is it legally valid for me to withdraw funds or conduct other transactions on his behalf for his medical treatment? -Name withheld on request

time-read
1 min  |
October 31, 2024
HOW SALMA HAYEK IS REDEFIMNG PHILANTHROPY
Mint Mumbai

HOW SALMA HAYEK IS REDEFIMNG PHILANTHROPY

In the worlds of Hollywood, fashion and activism, there's never been anyone quite like Salma.

time-read
9 mins  |
October 31, 2024
WORLD SAVINGS DAY: A REALITY CHECK ON INDIA'S DWINDLING HOUSEHOLD SAVINGS CRISIS
Mint Mumbai

WORLD SAVINGS DAY: A REALITY CHECK ON INDIA'S DWINDLING HOUSEHOLD SAVINGS CRISIS

High inflation and easy credit lead to financial instability due to overspending and rising debt

time-read
3 mins  |
October 31, 2024