FlyDubai eyes to start domestic airline in India by acquiring Go First

FlyDubai, owned by the Investment Corporation of Dubai, is looking to partner with Busy Bee for this venture

Dubai-based low-cost carrier FlyDubai is in talks to potentially launch a new domestic airline in India through collaboration with Busy Bee Airways. Busy Bee is currently negotiating with creditors to acquire the trademarks, flying licenses, and airport slots of the bankrupt Indian airline Go First, according to a report by Moneycontrol.

 

According to media reports citing sources, Busy Bee, which first expressed interest in acquiring Go First in March 2024, aims to revive the airline’s brand without purchasing its physical assets. The company is keen on acquiring Go First’s trademarks, domestic flying rights, and digital assets, including its website. Busy Bee has no plans to acquire the airline’s large land parcel in Thane, near Mumbai.

   

FlyDubai, owned by the Investment Corporation of Dubai (ICD), is looking to partner with Busy Bee for this venture. 

 

Busy Bee itself was founded by Pran Sathiadasan, director of Commercial Operations for Southeast Asia at FlyDubai. The Dubai-based carrier sees this as a strategic move to help establish a strong presence in India’s competitive aviation market.

 

What are the FDI regulations?

Under current Foreign Direct Investment (FDI) regulations, 100 per cent FDI is allowed in India’s aviation sector, but investments over 49 per cent require government approval. Non-resident Indians (NRIs) can hold 100 per cent ownership under the automatic route, which could help make this partnership easier to execute.

 

Busy Bee offered Rs 1,000 crore

 

According to the report, while discussions are still in the early stages, sources say Busy Bee has offered around Rs 1,000 crore for Go First’s trademarks and licenses. Go First, grounded since May 2023 after filing for bankruptcy, has been ordered to liquidate by the National Company Law Tribunal (NCLT) in January 2025.

 

Busy Bee is also awaiting approval from the National Company Law Appellate Tribunal (NCLAT) to move forward with its bid. Meanwhile, former EaseMyTrip CEO Nishant Pitti had previously submitted a joint bid for Go First’s intellectual property, raising it to Rs 1,800 crore before stepping down as the chief executive.

 

Industry analysts see the FlyDubai and Busy Bee collaboration as a move to capture the growing demand for air travel in India. With India’s aviation sector expanding rapidly, the potential revival of the Go First brand could offer travellers more options and improve connectivity within the country.