SpiceJet and Busy Bee Airways Submit Joint Bid for Go First
SpiceJet's role as the operating partner for the new airline involves providing essential staff, services, and industry expertise.
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Ajay Singh, CMD of Spicejet, and Busy Bee Airways have jointly submitted a bid for GoFirst. The bid marks a significant strategic move that has the potential to reshape the landscape of the Indian aviation sector and position SpiceJet for substantial growth in the industry.
The bid has been submitted by Ajay Singh, in his personal capacity, along with Busy Bee Airways Private Limited. SpiceJet’s role as the operating partner for the new airline involves providing essential staff, services, and industry expertise. This collaboration is anticipated to generate synergies between the two carriers, leading to improved cost management, revenue growth, and a strengthened market position within the Indian aviation industry.
Ajay Singh, Chairman and Managing Director, SpiceJet, said, “I firmly believe that GoFirst holds immense potential and can be revitalised to work in close synergy with SpiceJet, benefiting both carriers. Apart from coveted slots at domestic and international.”
SpiceJet is currently in the midst of a revival plan, having successfully completed the first tranche of capital infusion amounting to INR 744 Crore, with additional subscriptions pending regulatory approval. The company has also initiated the process to raise an additional INR 1000 crore. SpiceJet already holds valid shareholder approval to raise up to INR 2500 crore through QIP, eliminating the need for further shareholder approval.
