Spicejet chief Ajay Singh along with Busy Bee Airways submit bid for bankrupt Go First

Ajay Singh, Chairman of Indian low-cost carrier SpiceJet, speaks with the media before the landing of an amphibious seaplane from Japan’s Setouchi Holdings in the Arabian Sea as part of a demonstration by SpiceJet in Mumbai, India, December 9, 2017. | Photo Credit: REUTERS

SpiceJet chief Ajay Singh along with Busy Bee Airways have submitted a bid for bankrupt Go First.

In a release on February 16, SpiceJet said the bid has been submitted by Mr. Singh in his personal capacity along with Busy Bee Airways Pvt Ltd.

"SpiceJet's role as the operating partner for the new airline involves providing essential staff, services, and industry expertise. This collaboration is anticipated to generate synergies between the two carriers, leading to improved cost management, revenue growth, and a strengthened market position within the Indian aviation industry," the release said.

Mr. Singh, who is the Chairman and Managing Director of SpiceJet, said that he firmly believes that Go First holds immense potential and can be revitalised 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, Go First 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," he said in the release.

Bogged down by financial woes, Go First stopped flying in May last year and is undergoing an insolvency resolution process.

Specific details about Busy Bee Airways could not be immediately ascertained.