SpiceJet's Ajay Singh bids for Go First. Check details

SpiceJet’s Ajay Singh bids for Go First. Check details

Budget carrier SpiceJet’s managing director, Ajay Singh, and Busy Bee Airways have jointly submitted their bid for Go First airline, SpiceJet said on Friday.

SpiceJet will serve as operating partner for the new airline and provide staff and services, the company said.

SpiceJet will be the operating partner for the new airline, providing staff and services. This partnership aims to bring together the strengths of both companies, leading to better cost management, increased revenue, and a stronger position in the Indian aviation market.

By working together, SpiceJet and the new airline can improve their flight schedules and destinations, attracting more passengers and selling more tickets.

SpiceJet is currently working on a plan to revive its business. It has already raised money and is planning to raise more.

SpiceJet is currently in the midst of a revival plan, having successfully completed the first tranche of capital infusion amounting to Rs 744 Crore, with additional subscriptions pending regulatory approval.

The company has also initiated the process to raise an additional Rs 1000 crore. SpiceJet already holds valid shareholder approval to raise up to Rs 2500 crore through QIP, eliminating the need for further shareholder approval.

Ajay Singh, Chairman and Managing Director of SpiceJet, believes that Go First has great potential and can be revitalised by working closely with SpiceJet. He is confident that combining the strengths of both airlines will lead to mutual growth and success.

Ajay Singh, Chairman and Managing Director, SpiceJet, said, “I firmly believe that GoFirst holds immense potential and can be revitalized to work in close synergy with SpiceJet, benefiting both carriers. Apart from coveted slots at domestic and international airports, international traffic rights, and an order for over 100 Airbus Neo planes, GoFirst is a trusted and valued brand among flyers. I am happy to contribute to the efforts aimed at reviving this popular airline and leveraging its strengths for mutual growth and success.”

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