Go First Crisis: EaseMyTrip Withdraws Bid, Airline Faces Uncertain Future

EaseMyTrip withdraws bid for bankrupt Go First. Airline's revival hopes dashed after aircraft de-registration. Go First, once India's fifth-largest airline, faces uncertain future.

Go First Crisis: After Aircraft De-registration, EaseMyTrip Founder Withdraws Bid

Go First, formerly known as GoAir, has faced another setback in its bankruptcy process as EaseMyTrip, one of its bidders, has announced the withdrawal of its bid. This development comes after the Directorate General of Civil Aviation (DGCA) de-registered all of Go First's 54 aircraft earlier this month.

Go First, which filed for bankruptcy in May last year, had received two financial bids as part of its bankruptcy process. SpiceJet chairman and managing director Ajay Singh submitted a bid along with Busy Bee Aviation Pvt. Ltd, in which EaseMyTrip has a 51% stake. Sharjah-based Sky One Aviation also bid for the airline.

However, hopes for the airline's revival were quashed after the Delhi High Court on April 25 ordered the DGCA to deregister all of their aircraft. The de-registration of the aircraft has made it difficult for Go First to continue operations and has also impacted its ability to attract potential investors.

Source: Go First crisis: After aircraft de-registration, EaseMyTrip founder withdraws bid