In another blow to Go First, formerly known as GoAir, EaseMyTrip has pulled out its bid from the defunct airline’s bankruptcy process.
Go First, which stopped operations last year and filed for bankruptcy, had received bids from various parties, including SpiceJet chairman Ajay Singh’s consortium. However, EaseMyTrip’s decision to withdraw its bid adds to the challenges facing the airline’s revival.
Go First, with its fleet of 54 grounded aircraft since May last year, had garnered attention from potential buyers through the bankruptcy proceedings. SpiceJet chairman Ajay Singh, along with Busy Bee Aviation Pvt. Ltd., and Sharjah-based Sky One Aviation were among those interested. EaseMyTrip, part of a consortium led by Singh, initially submitted a bid but has now opted out.
The withdrawal of EaseMyTrip’s bid comes amidst legal complications faced by Go First. The Delhi High Court’s order to deregister all of Go First’s aircraft earlier this year dealt a significant blow to the airline’s prospects of revival.
In addition, Go First’s ongoing legal battle with engine maker Pratt & Whitney over compensation further complicates its situation.
Nishant Pitti, CEO of EaseMyTrip, stated that the decision to withdraw from the Go First bid allows the company to focus on other strategic priorities. However, this development raises concerns about the future of Go First, which was once the fifth-largest airline in Bharat based on scheduled departures.
Go First’s demise highlights broader challenges within the Bharatiya aviation sector. The airline’s bankruptcy adds to a list of defunct carriers in recent years, including Sahara, Kingfisher, and Jet Airways. Such events raise questions about the sector’s overall ecosystem, governance, and stability, according to industry experts.
The impact of Go First’s closure extends beyond its immediate operations. It raises doubts about the market’s attractiveness for both foreign and homegrown airlines.
With Jet Airways still entangled in legal proceedings despite finding a suitor, the aviation industry faces scrutiny and calls for more industry-friendly frameworks.
As stakeholders assess the aftermath of EaseMyTrip’s withdrawal and the airline’s bankruptcy proceedings, attention turns to the broader implications for the Bharatiya aviation industry and the need for reforms to ensure its stability and growth.
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