Flydubai to Acquire Go First, Set to Enter India’s Aviation Market

Go First, formerly known as GoAir, was a prominent budget airline in India, providing affordable domestic and international flights.

However, financial troubles, exacerbated by the COVID-19 pandemic, operational challenges, and rising debt, forced the airline to halt operations in May 2023.

Despite attempts at restructuring, Go First’s financial struggles led to the National Company Law Tribunal (NCLT) ordering its liquidation in January 2025.

In a bid to tap into the rapidly growing Indian aviation market, Dubai-based low-cost carrier flydubai is considering launching a domestic airline in India.

This potential venture is being explored in partnership with Busy Bee Airways, a relatively new aviation player. Busy Bee is currently negotiating with lenders to acquire the bankrupt Go First airline.

Busy Bee first expressed its interest in March 2024, aiming to acquire Go First’s non-physical assets such as branding rights, domestic flight permits, and digital platforms, including the airline’s official website.

The company has clarified that it has no plans to acquire Go First’s large landholding in Thane, Mumbai. Busy Bee has made an acquisition offer of 10 billion rupees ($115 million) for these assets.

According to MoneyControl sources, Busy Bee is proposing a deal worth Rs 1000 crore for Go First’s trademarks and licenses. While the Indian aviation sector allows 100% foreign investment, any investment above 49% requires government approval and scrutiny.

Busy Bee has already submitted a written proposal to Go First’s creditors. Industry experts believe that a collaboration between FlyDubai and Busy Bee could enhance domestic air travel options in India, meeting the growing demand for better connectivity.