Go First bidder has hiked its offer for the bankrupt airline, this move comes after being instigated by the lenders, sources from banking and one person concerned with the development have said, as reported by Reuters.
The two companies, Spicejet’s Managing Director Ajay Singh and Busy Bee Airways have increased the bid price between 1 billion rupees and 1.5 billion rupees. The original bid amount was 16 billion rupees.
The airline filed for bankruptcy in the month of May last year and has secured two financial bidders for it. The bankruptcy process is managed by Ajay Singh of SpiceJet, Nishant Pitti, CEO of EaseMYTrip, and Busybee.
