look news india
There has been a new development in the case of GoFirst, which was already in crisis and declared bankrupt. Nishant Pittie, CEO of travel portal EasyMyTrip, has now announced that he is withdrawing the bid, more than three months after placing a joint bid for GoFirst. He has decided to withdraw from the exercise to acquire the bankrupt airline. Earlier, Pittie-owned Bizz Bee Airways, SpiceJet chief Ajay Singh and Easytrip had all joined the bidding process to acquire GoAir. Go Air has been in bankruptcy proceedings since February.
Pitti said, after careful consideration, he has decided to withdraw the bid for Go First. This decision will help me consider other strategic priorities and other plans, which are in line with our long-term vision and objectives.
It is worth noting that a month ago, the Delhi High Court had allowed Lasers to take back 54 aircraft of Go First. Now, months after the High Court order, IzMyTrip has also changed its strategy and decided to withdraw the joint bid. On April 26, Pitti said that he would take a decision on any proposal for the defunct airline after reviewing the court order. At the same time, it should also be told here that last Friday IzMyTrip announced the March quarter results. In which IzMyTrip reported a loss of Rs 15.07 crore and a profit after tax of Rs 103.46 crore for the full year. A day after the results were announced, Pitti announced the withdrawal of the bid.
