The Indian low-cost airline Spicejet has been in a constant financial crisis for many years and is repeatedly confronted with lessors confiscating aircraft and/or creditors filing for bankruptcy against the company. The company now intends to take over the insolvent competitor Go First.

In mathematics, minus and minus equals plus. This rule does not apply in business life, but it often happens that two or more troubled companies merge and/or one restructuring case takes over the other. At least that's what's happening in India, because Spicejet has issued a stock exchange announcement in which the board explains that it intends to take over the insolvent Go First.

That Spicejet, which recently arrived in Dubai-World Central a Boeing 737-800 was seized was, however, after a court decision was released again, who doesn't have the money for it, is also clear. But they want to borrow that, i.e. others should pay for the intended takeover of Go First. The Spicejet board also names a sum: they need 270 million US dollars for this and, at the same time, they want to use it to stabilize their own financial situation - i.e. to pay off debts that creditors are putting pressure on.

Whether Spicejet will be included in the bidding process or not is completely open. According to local media reports, Sky One and Safrik Investments are also said to be interested in buying and reviving Go First. In general, it is questionable whether this will succeed, as there is a similar project regarding Jet Airways is in the middle of chaos.