The carrier, which has been grounded since May 2023, has been undergoing an insolvency process since then.
The first bid has been submitted by SpiceJet chairman and managing director Ajay Singh jointly with Busy Bee Aviation Private Limited. Two people aware of the development said Nishant Pitti, co-founder of online travel platform EaseMyTrip, has a 51% stake in Busy Bee Aviation Limited while the remaining 49% stake is held by local investors.
The people further added that the company sees potential in the land assets of Go First, which are estimated to be worth around ₹10,000 crore and the expected compensation from engine manufacturer Pratt & Whitney for engine grounding will also be key in the revival plans. "SpiceJet will help in the operations while Busy Bee will focus on funding requirements," one of the two people cited above added.
The second bid has been submitted by Sharjah-based aviation company Sky One, which specializes in a wide array of aviation services such as Cargo Charters, Asset Trading, Pilot Training, Maintenance, Repair, and Overhaul (MRO) among others.
Queries sent to SpiceJet, Nishant Pitti, and Sky One were unanswered till press time.
Denne historien er fra February 17, 2024-utgaven av Mint Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra February 17, 2024-utgaven av Mint Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
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
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
We need to invest in nature for the sake of humanity's future
Money must flow into what saves rather than harms biodiversity
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
The country needs to map its informal economy better
We need more accurate data on enterprises that play a major role in employing people
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
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
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
HOW SALMA HAYEK IS REDEFIMNG PHILANTHROPY
In the worlds of Hollywood, fashion and activism, there's never been anyone quite like Salma.
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
