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Go First, which filed for bankruptcy in May last year, had received two financial bids as part of its bankruptcy process | Latest News India
SpiceJet promoter Ajay Singh and Busy Bee Airways promoter Nishant Pitti had submitted a joint bid in their personal capacity in February.
Nishant Pitti withdraws bid for Go First, citing focus on strategic priorities; SpiceJet's Ajay Singh response pending.
The move comes weeks after the DGCA de-registered 54 GoAir aircrafts, impacting valuation of the defunct airline. The now defunct airline owes its creditors more than Rs 6,200 crore.
Indian shares struggled for direction on Friday as strong U.S. economic data released overnight led traders to push back the timing for the first full quarter-point Federal Reserve interest-rate cut to December from November earlier.