{"id":89033,"date":"2025-04-05T14:28:25","date_gmt":"2025-04-05T08:58:25","guid":{"rendered":"https:\/\/aviationa2z.com\/?p=89033"},"modified":"2025-04-05T14:28:29","modified_gmt":"2025-04-05T08:58:29","slug":"easemytrip-ceo-nishant-pitti-eyes-go-first-assets","status":"publish","type":"post","link":"https:\/\/aviationa2z.com\/index.php\/2025\/04\/05\/easemytrip-ceo-nishant-pitti-eyes-go-first-assets\/","title":{"rendered":"EaseMyTrip CEO Nishant Pitti Eyes Go First Assets"},"content":{"rendered":"\n

DELHI-<\/strong> The National Company Law Appellate Tribunal (NCLAT)<\/strong> has created a possible lifeline for the grounded Go First Airways (G8)<\/a> while still upholding its liquidation order.<\/p>\n\n\n\n

EaseMyTrip<\/a> CEO Nishant Pitti’s company, Busy Bee Airways,<\/strong> in which he is a major shareholder, has received permission to propose an asset buyout plan <\/strong>despite the airline’s ongoing liquidation process.<\/p>\n\n\n\n

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Photo- Compiled By Aviation A2Z<\/figcaption><\/figure>\n\n\n\n

Go First Assets<\/h2>\n\n\n\n

Go First Airways, previously known as Go Air<\/strong>, suspended all flights on May 3, 2023, after operating for more than 17 years. The airline voluntarily filed for insolvency resolution under the Insolvency and Bankruptcy Code (IBC)<\/strong> that same month.<\/p>\n\n\n\n

The carrier blamed its financial collapse on operational constraints and grounded aircraft resulting from engine supply issues with American manufacturer Pratt & Whitney<\/a>.<\/p>\n\n\n\n

In July 2024, Nishant Pitti partnered with SpiceJet (SG) <\/a>Chairman Ajay Singh <\/strong>to make a joint bid for acquiring Go First. However, the Resolution Professional rejected this offer. Sharjah-based aviation company Sky One<\/strong> also showed interest in acquiring the troubled airline during the insolvency resolution process.<\/p>\n\n\n\n

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Photo: Harsh Tekriwal \/ avgeekwithlens<\/figcaption><\/figure>\n\n\n\n

Liquidation Order<\/h4>\n\n\n\n

On January 20, 2025, the National Company Law Tribunal (NCLT)<\/strong> ordered the complete liquidation of Go First. The tribunal stated that the Committee of Creditors (CoC) had the authority to make this decision before confirming any resolution plan.<\/p>\n\n\n\n

This liquidation order faced challenges from multiple parties. Busy Bee Airways (led by Pitti), Bhartiya Kamgar Sena Mumbai (a trade union), <\/strong>and Captain Arjun Dhawan <\/strong>all filed appeals against the decision. <\/p>\n\n\n\n

“The trade union specifically argued that liquidation would leave approximately 5,000 workers without jobs or compensation.”<\/p>\n\n\n\n

NCLAT’s Recent Decision<\/h4>\n\n\n\n

On Friday, April 4, the NCLAT dismissed all appeals challenging the liquidation order. However, in a significant development, the tribunal allowed Busy Bee Airways to submit an asset buyout scheme<\/strong> to Go First’s liquidator, Dinkar Venkatasubramanian, who was appointed in October 2024.<\/p>\n\n\n\n

According to the order, the liquidator must “consider<\/strong>” Busy Bee’s scheme, opening the door for new negotiations with the Committee of Creditors and the liquidator.<\/p>\n\n\n\n

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Photo- Wikipedia<\/figcaption><\/figure>\n\n\n\n

Future Prospects<\/h2>\n\n\n\n

With most of Go First’s fleet already de-registered following a Delhi High Court order in April 2024, any buyout scheme would focus on the airline’s remaining assets. <\/strong>These likely include its brand value, airport slots, and ground infrastructure.<\/p>\n\n\n\n

Busy Bee Airways has maintained that Go First still possesses valuable assets and holds a valid license from the Directorate General of Civil Aviation (DGCA)<\/a> to operate flights. The company has expressed readiness to acquire Go First as a going concern despite the liquidation process.<\/p>\n\n\n\n

Nishant Pitti, who serves as the majority shareholder in Busy Bee Airways, is expected to quickly engage with lenders and the liquidator to present a formal proposal for acquiring these remaining assets.<\/p>\n\n\n\n

The trade union has also requested that the airline remain a going concern until the conclusion of ongoing arbitration proceedings with Pratt & Whitney at the Singapore International Arbitration Centre.<\/p>\n\n\n\n

Stay tuned with us. Further, follow us on social media for the latest updates.<\/p>\n\n\n\n

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Go First Grounded A320neos Getting Disassembled for Parts<\/a><\/blockquote>