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EaseMyTrip Co-founder Withdraws Personal Bid from GoAir

Go Air

GoAir loses slots and foreign rights amid insolvency; Nishant Pitti withdraws bid, complicating the airline’s financial and operational struggles.

In a strategic move reflecting a keen focus on long-term vision and growth objectives, Nishant Pitti, Founder & CEO of EaseMyTrip has announced the withdrawal of his bid from the GoAir. With this development, EaseMyTrip reaffirms its steadfast commitment to pioneering innovation and growth within the travel industry.

GoAir’s struggles continue as the airline temporarily loses its slots and foreign bilateral rights to other carriers, including Air India and IndiGo. Airlines require a “bilateral air services agreement” with another country to operate international flights in the aviation industry. This agreement determines the number of flights or seats allowed per week between the two countries. However, securing these flying rights is not sufficient; airlines must also obtain slots at both departure and arrival terminals to commence operations.

A slot is a specific date and time when an airline’s aircraft is permitted to depart or arrive. In India, these slots are allocated by a committee comprising officials from the Civil Aviation Ministry, the Directorate General of Civil Aviation (DGCA), airport operators, and representatives from the airlines. In an effort to support air passengers, the Civil Aviation Ministry has redistributed GoAir’s slots and bilateral rights among other airlines. Air India, Vistara, and IndiGo have primarily received these allocations. Akasa has acquired GoAir’s rights for destinations in Saudi Arabia, Kuwait, and Qatar, and is seeking rights for Dubai as well.

This redistribution process has been ongoing for some time, with airlines expressing interest in permanently acquiring these slots. Air India and IndiGo rapidly expand their fleet, adding nearly one aircraft each week. AI Express and Akasa also plan significant growth, despite challenges related to Boeing’s B737 MAX, a model both airlines have ordered.

Legal Troubles and Insolvency Proceedings

GoAir, operating under the brand name Go First, is embroiled in a legal battle with Pratt & Whitney (P&W) at the Singapore Court of Arbitration, claiming about ₹8,000 crore in compensation. The airline attributes its bankruptcy to the failure of P&W engines, which forced it to ground many aircraft.

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Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales. She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.