India’s Go First has received two financial bids as part of its bankruptcy process, said two bankers who attended a meeting of the airline’s creditors held on Friday.
Budget carrier SpiceJet’s managing director, Ajay Singh, and Busy Bee Airways have jointly submitted a bid of 16 billion rupees ($193.10 million) for the airline, the bankers said.
“The plan includes additional fund infusion to restart the airline’s operations,” said a banker with a state-run bank that has exposure to Go First.