FlyDubai, the Dubai-based low-cost carrier, is exploring the launch of a domestic airline in India through a potential partnership with Busy Bee to acquire the bankrupt Go First Airways. This move comes as Busy Bee negotiates with creditors to secure Go First’s trademarks, flying licenses, and airport slots, marking FlyDubai’s strategic interest in the growing Indian aviation market.
Busy Bee, aiming to acquire Go First’s brand identity and digital assets, including its website, has proposed an offer of around Rs 1,000 crore. The company is awaiting approval from the National Company Law Appellate Tribunal (NCLAT) to move forward with the bid. FlyDubai, owned by the Investment Corporation of Dubai (ICD), views this partnership as an opportunity to establish a strong presence in India’s domestic aviation sector.
Pran Sathiadasan, director of commercial operations for Southeast Asia at FlyDubai and founder of Busy Bee, could bridge the connection between both companies. The collaboration would enable FlyDubai to leverage Busy Bee’s acquisition of Go First’s flying slots and licenses, potentially allowing FlyDubai to operate domestic routes across India.
India’s Foreign Direct Investment (FDI) regulations play a crucial role in this strategy. While FlyDubai is a foreign airline and limited to a 49% stake in Indian carriers without government approval, Busy Bee could ease the process as it is set up as an NRI-led entity, which can invest more freely under India’s automatic route for NRIs.
If the acquisition is successful, FlyDubai and Busy Bee could bring more competition and connectivity to India’s rapidly growing aviation market. The revival of Go First’s brand, along with FlyDubai’s expertise, could provide affordable travel options and enhance domestic travel for Indian passengers. This collaboration could reshape the Indian aviation landscape and strengthen FlyDubai’s position in one of the world’s fastest-growing aviation markets.
