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UAE-based FlyDubai in India: Several airlines including Busy Bee have shown interest in the acquisition of Go First. The cash-strapped airline had earlier extended the deadline to allow financial bids for acquisition by January 31, 2025.
FlyDubai Eyes Indian Aviation Market, Plans Go First Acquisition
FlyDubai’s India Expansion: Indian bankrupt airline Go First may once again return to skies if everything goes as planned. Dubai-based low-cost carrier FlyDubai reportedly plans to commence a domestic airline service in India in collaboration with Busy Bee Airways. The latter is in talks to acquire the grounded domestic airline Go First.
According to a report by MoneyControl, Busy Bee has knocked on the doors of Go First’s Committee of Creditors (CoC) to buy its trademarks, flying license, and airport slots.
Flydubai is a subsidiary of Dubai Aviation Corporation. The airline is owned by the Investment Corporation of Dubai (ICD) which is the principal investment wing of the Dubai government.
MoneyControl report citing a senior banker associated with the discussions stated that the bidder is primarily focused on acquiring the brand associated with Go First rather than its assets.
Go First Acquisition Bidding
Several airlines including Busy Bee have shown interest in the acquisition of Go First. The cash-strapped airline had earlier extended the deadline to allow financial bids for acquisition by January 31, 2025.
Go First has been grounded since May 2023 after filing for bankruptcy.
Sky One, an aviation company based in Sharjah, US-based NS Aviation, and SpiceJet are among the companies that have taken direct interest in the acquisition of the airline.
Busy Bee showed the first interest in acquiring Go First in March 2024 by placing its bid. It has once again expressed its interest in acquiring the airline’s tangible assets, such as its massive land parcel in Thane, near Mumbai, according to a report by MoneyControl.
Busy Bee was originally incorporated by Pran Sathiadasan in April 2017.
As per MoneyControl sources, Busy Bee is pitching a deal of acquisition worth Rs 1000 crore for trademarks and licenses of Go First.
The National Company Law Tribunal (NCLT) ordered Go First’s liquidation in January 2025 ordered the liquidation of Go First due to its inability to resume operations. Busy Bee has given its bid to creditors with a written proposal.
EaseMyTrip’s, the online travel agency, Nishant Pitti has also shown its interest in acquiring the troubled airline Go First. Pitti submitted a joint bid of Rs 1600 crore in 2024, later increasing to Rs 1800 crore to secure Go First’s intellectual properties.
