The bid value of SpiceJet’s chairman and managing director, Ajay Singh and the majority shareholder of partner firm, Busy Bee Airways’, Nishant Pitti, for the bankrupt carrier, Go First is Rs 600 crore.
The duo plan to pay off the dues of the banks by monetising two land parcel Go First has in Mumbai. Go First owes banks around Rs 6,521 crore, of which Rs 1,300 has been drawn under the government’s emergency credit line guarantee scheme (ECLGS). The total dues of the carrier after adding up the claims of vendors and lessors goes up to around Rs 11,463 crore.
