The Directorate General of Civil Aviation (DGCA) has asked the interim resolution professional (IRP) of Go First to submit the airline’s services resumption plan after receiving the approval from the committee of creditors (CoC). Only when the CoC approves the plan for restarting the services, the aviation regulator will examine it, sources said.
The CoC is likely to hold its first meeting on Friday. Central Bank of India, Bank of Baroda, IDBI Bank and Deutsche Bank are the main lenders to the airline, which owes Rs 6,521 crore to its financial creditors, according to its filings with the National Company Law Tribunal. Of this, Rs 1,300 has been drawn under the government’s emergency credit line guarantee scheme (ECLGS). Upon including the dues of the vendors, the total dues of the airline stands at Rs 11,463 crore.
