Banks may finance Go First’s request for Rs 400 crore interim funding
Go First lenders are likely to support the airline’s request for Rs 400 crore interim funding to restart the operations.
Go First temporarily halted operations on May 2 and was admitted under the insolvency process on May 10. On Wednesday, the airline’s resolution professional Shailendra Ajmera submitted a business plan and a request for over Rs 400 crore to the airline’s committee of creditors (CoC).
The CoC comprises Go First’s lenders – Bank of Baroda, Central Bank, Deutsche Bank and IDBI Bank – which collectively have an exposure of over Rs 6500 crore to the airline.
