Two bids received to buy Go First: SpiceJet Director and Busy Bee Airways together can acquire for Rs 1,600 crore

Two bids have been made to buy the cash-strapped airline Go First. According to news agency Reuters, SpiceJet Managing Director Ajay Singh and Busy Bee Airways have jointly made a bid of $ 193.10 million (about Rs 1600 crore).

However, till now no official information has been given by the company regarding this matter. At the same time, a banker of a government bank which has investments in Go First said that this investment plan includes raising additional funds to restart the operations of Go First Airline.

CoC keeps the bid protected and confidential

Nishant Pitti, majority shareholder of Busy Bee Airways, said, ‘Our bid to launch the airline remains Committee of Creditors (CoC) protected and confidential until the successful bidder is announced.’

The airline owes Rs 6,521 crore to lenders.

GoFirst owes Rs 6,521 crore to its lenders. Acute Ratings and Research had said in its January 19 report that Central Bank of India had the highest exposure of Rs 1,987 crore, followed by Bank of Baroda at Rs 1,430 crore, Deutsche Bank at Rs 1,320 crore and IDBI Bank at Rs 58 crore. was due.

Go First Airlines flights are closed from May 3

Go First Airlines said on May 2 that it was canceling all its flights for May 3, 4 and 5. Since then, Go First has been continuously extending the date of suspending flights.