SpiceJet promoter Ajay Singh and Busy Bee Airways Private Ltd (BBAPL) have jointly submitted a bid for insolvent airline Go First, which ceased to fly in May last year. Moreover, Sharjah-based aviation services company Sky One announced submitting a bid for the airline.
BBAPL, an East Delhi-based company, has Paul Gomes and Pran Sathiadasan as 50-50 shareholders, according to the latest documents filed with the Ministry of Corporate Affairs in November 2023, which have been reviewed by Business Standard.
Currently, Sathiadasan is also director of commercial operations, South East Asia, Flydubai, an airline operated by the United Arab Emirates government.
According to documents, BBAPL reported no income in 2021-22, but its income rose to ₹96,300 in 2022-23. It recorded a net loss of ₹6,800 in 2021-22, but turned a profit of ₹80,906 in 2022-23.
BBAPL has not submitted any documents to the Ministry of Corporate Affairs regarding changes in ownership in 2023 or 2024. BBAPL did not immediately respond to queries emailed by Business Standard regarding the bid.
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