Lenders of Go First are expecting to recover around 25%-30% or Rs 1,600-1,900 crore of their exposure to the beleaguered airline, a senior banker told FE.
This will come primarily from the parcel of land in Thane that the Wadia group has given as collateral to the banks.
The grounded airline, which stopped flying from May 3, is undergoing an insolvency resolution process under the Insolvency and Bankruptcy Code (IBC), owes Rs 6,521 crore to the lenders including Central Bank of India, Bank of Baroda, Deutsche Bank, and IDBI Bank.
