New Delhi: Dubai-based low-cost carrier FlyDubai is contemplating on launching a domestic airline in India by joining hands with Busy Bee Airways. Moneycontrol reported that Busy Bee has approached Go First’s Committee of Creditors (CoC) to and put forward a deal to acquire the trademarks, flying licence, and airport slots.
Notably, Busy Bee Airways, backed by EaseMyTrip’s Nishant Pitti, is in talks with lenders to acquire the bankrupt Indian airline Go First. In March 2024, it had first placed a bid to acquire Go First and now has again shown an interest in reviving the Go First brand.
Busy Bee is interested in acquiring bilateral and domestic flying rights, trademarks, and online properties, such as the website, ‘www.gofirst.co.in’, the report in MoneyControl stated.
“The bidder is primarily focused on acquiring the brand associated with Go First rather than its assets,” Moneycontrol quoted a senior banker involved in the discussions as saying.
Busy Bee’s Pursuit of Go First Assets and Brand
Earlier, Busy Bee Airways informed the National Company Law Appellate Tribunal (NCLAT) that it is in discussions with Go First’s lenders to submit its bid to rescue the airline. The Airways has challenged the liquidation of bankrupt Go First. In 2024, Pitti submitted a joint bid of Rs 1,600 crore and later increased it to Rs 1,800 crore to acquire Go First’s intellectual properties.
During the last hearing, Busy Bee told the appellate tribunal that it has met with the Go First’s lenders and shared an updated proposal with the lenders. The NCLAT did not pass any order and set the next hearing date on February 19.
FlyDubai is a subsidiary of Dubai Aviation Corporation and owned by the Investment Corporation of Dubai (ICD). Busy Bee was originally incorporated by Pran Sathiadasan, Director of Commercial Operations for Southeast Asia at FlyDubai, in April 2017.
FlyDubai, through its associate Busy Bee Airways, is exploring a significant move into the Indian aviation market. Busy Bee, backed by EaseMyTrip’s Nishant Pitti, aims to acquire Go First’s assets, including its brand and flying rights, potentially reviving the airline. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
