NCLAT Upholds Go First Airways Liquidation, Appeals Dismissed

The National Company Law Appellate Tribunal (NCLAT) has upheld the NCLT January 20, 2025, decision to liquidate Go First Airways, dismissing appeals from Busy Bee Airways and others.

Busy Bee Airways, backed by EaseMyTrip co-founder Nishant Pitti, had proposed acquiring Go First as a going concern, citing the airline's valuable assets and operational license.

However, the NCLAT found no merit in the appeal, noting the lack of a viable revival plan for the debt-ridden airline.

This decision allows creditors to proceed with asset liquidation to recover dues totaling approximately ₹6,521 crore.