EaseMyTrip founder Nishant Pitti withdraws Cross First bid, says corporate to concentrate on core strengths – Business Information

Nishant Pitti, founder of travel booking website, EaseMyTrip, has announced to withdraw the company from the bid for the airline company, Go First. Pitti claimed the announcement to be a strategic realignment towards the company’s core area of strength.

Pitti took social media platform X, formerly Twitter, to announce. He tweeted, “We have decided to withdraw from the GoAir bid to concentrate on our core areas of strength. Our focus remains on leveraging our expertise and resources to achieve sustainable growth and success.”

Early in May of last year, Go First ceased operations and voluntarily filed for bankruptcy due to financial difficulties, primarily brought on by problems with its Pratt & Whitney engines. After submitting an Expression of Interest (EoI) for the financially troubled airline, Jindal Power decided not to pursue a bid for Go First in November. 

Earlier this month, the Directorate General of Civil Aviation (DGCA) de-registered all its 54 aircraft. 

In a statement, Pitti said that the decision has been taken after careful consideration. “I have decided to withdraw from the GoAir bid in my personal capacity. This decision allows me to better focus on other strategic priorities and initiatives that align with our long-term vision and growth objectives. Our commitment to delivering exceptional value and service remains unwavering as we continue to navigate new opportunities and challenges,” he noted.

The travel booking website, EaseMyTrip in Q4 FY24 reported a loss of Rs 15.07 crore on a consolidated basis, against a profit of Rs 31.05 crore in the same quarter of previous year.