The EaseMyTrip CEO has formed an unlikely partnership with SpiceJet’s Ajay Singh to buy the grounded airline. Their bid has evoked interest and a question: will it work?
What should one do when a bankrupt company owes you money and there’s little chance of getting any of it back? Would you rather buy it out?
For Nishant Pitti, chairman and chief executive officer of Easy Trip Planners, which operates travel portal EaseMyTrip, the answer is yes.
Go First, the former Wadia group airline that is undergoing bankruptcy proceedings, owes EaseMyTrip and two of its units a total of Rs 112.17 crore. To make matters worse, it seems headed for a fate similar to bankrupt Jet Airways, which owes his company Rs 13 crore and is nowhere close to …
Prince leads the newsroom at The Morning Context as managing editor. A fascination with the written word has taken Prince to some of the leading newsrooms across the country, including The Economic Times, Dow Jones Newswires, Forbes India and Moneycontrol. In a career spanning 20 years, Prince has led teams, managed pages, projects and special editions, and has authored The Consolidators, published by Penguin Random House in 2017.
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