Sky One also Races for Go First Bonhomie

1
Sky One also Races for Go First Bonhomie
www.skyone.aero
2
PRESS NOTE
Sky One Chairman Jaideep Mirchandani confirmed
the bid submission for GoFirst airline. We had
sent their EoI (expression of interest) and have
now submitted the bid for Go First and look
forward to the next stage. Given our vast
aviation experience across the globe, we are
confident about the acquisition. The bids are
submitted to RP for consideration by the
Committee of Creditors, this stage qualifies the
bidders that hope to turn the airlines financial
woes around if the bid turns successful. Mr.
Mirchandani added that Indian aviation is at the
cusp of unprecedented growth and Sky One was glad
to play a part in it. The prospects of growth in
India are a big reason for exploring the
acquisition. GoFirst comes with coveted
slots at domestic and international
airports, international traffic rights and a
substantial user base, which makes it a reliable
bet for us.
3
The National Company Law Tribunal (NCLT) has
recently granted a 60-day extension to
GoFirsts moratorium, allowing the airline more
time to conclude its corporate insolvency
resolution process (CIRP) allowing potential
investors to submit their proposals for the
carriers revival. The resolution professional
(RP) managing GoFirsts case, also reported to
the court that the airline has attracted interest
from three prospective purchasers, each of whom
has already submitted funds. In 2023, Go First
encountered difficulties regarding the
availability of Pratt Whitney engines utilized
across its entire A320 aircraft fleet,
asserting that this issue was significantly
affecting its operations. Consequently, on May 3,
2023, the airline suspended its operations
and submitted a voluntary insolvency
application to the National Company Law
Tribunal. Sky One was among the bidders in the
race to buy the governments stake in
helicopter services company Pawan Hans last
year and has been making strategic
acquisitions across the globe in the aviation
sector as well as pilot training.
4
ABOUT SKYONE

• Sky One is headquartered in Sharjah, United Arab
  Emirates, and specializes in a wide array of
  aviation services. From Cargo Charters to
  Asset Trading, from Training to Maintenance,
  Repair, and Overhaul (MRO), Airlines and from
  advisory to capacity optimization, Sky Ones
  portfolio is expansive. It offers a range of
  services including charters, crew training,
  operations, and maintenance. Its services and
  solutions are carefully designed to cater
  to the diverse needs of the aviation
  industry This versatility sets the company
  apart as a one-stop solution for aviation
  companies across the globe.

5
THANK YOU
971 65579577 info_at_skyone.aero www.skyone.aero B1-
01-04A, Saif Zone - Sharjah, United Arab Emirates