February 16, 2024 09:06 pm | Updated 09:35 pm IST - NEW DELHISpiceJet promoter Ajay Singh and Sharjah-based aviation company Sky One on Friday submitted competing bids for bankrupt airline Go First. The National Company Law Tribunal had on February 13 granted a second extension for Go First’s corporate insolvency resolution process -- giving it another 60 days until April 4. It added that the airline operator’s role as the “operating partner” for the revived carrier would involve providing essential staff, services, and industry expertise. SpiceJet had only recently announced cost-cutting measures to save up to ₹100 crore, including plans to lay off up to 1,400 staff members. The value of Go First therefore may only lie in its airport slots, bilateral route rights, as well as the aircraft pending for delivery from Airbus..

Source: The Hindu February 17, 2024 10:50 UTC