Lenders to India’s Go First are all set to meet this week to explore various options for the bankrupt airline, such as liquidation, following a court order that allowed lessors to reclaim their planes, two bankers with Go First’s creditors stated on Tuesday.
After the court’s decision, the airline seems to have lost all its worth, and there’s very little hope for it to bounce back, stated one of the banker
Debt burden and creditor details
The airline has debts amounting to 65.21 billion rupees ($780.88 million), owed to creditors such as Central Bank of India, Bank of Baroda, IDBI Bank, and Deutsche Bank.
