Key Points
New Delhi: SpiceJet boss Ajay Singh and Busy Bee Aviation have submitted a joint 7,000 crore rescue plan for bankrupt airline Go First, two people aware of the development said..
. Go First's committee of creditors on Friday discussed this bid, as well as a rival bid from Sky One, the people cited above said on condition of anonymity..
The joint bid by Singh is higher than the other party (Sky One)..
Busy Bee Aviation sees potential in the land assets of Go First, which are estimated to be worth around 10,000 crore and the expected compensation from engine manufacturer Pratt & Whitney for engine grounding will also be key in the revival plans..
The second bid was submitted by Sharjah-based aviation company Sky One, which specializes in a wide array of aviation services such as cargo charters, asset trading, pilot training, and maintenance, repair, and overhaul (MRO) among others..
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