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Go First dealt significant blow as potential buyer backs out
Updated On: 30 May, 2024 07:08 AM IST | Mumbai | Prasun Choudhari
The airline had ceased operations last year after declaring insolvency
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Nishant Pitti, backed by BusyBee Airways, withdrew its bid to acquire the struggling airline. File pic
In a significant blow to Go First`s recovery efforts, Nishant Pitti, backed by BusyBee Airways, has withdrawn his bid to acquire the struggling airline. This development marks another nail in the coffin for Go First, which has been grappling with financial woes.
“Go First, formerly known as GoAir, ceased its operations on May 3, 2023, a day after declaring insolvency. The airline`s abrupt halt came as a shock to many, leaving passengers stranded and raising concerns about its future viability. The insolvency was filed on May 2, 2023,” said an industry source familiar with the matter.
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