MUMBAI: Lenders to India’s Go First are not in favour of releasing additional funding to the grounded airline, given its legal troubles with lessors and complexities related to changes in the bankruptcy law, two banking sources told Reuters on Monday.
Go First’s lenders, which include the Central Bank of India, Bank of Baroda, IDBI Bank and Deutsche Bank, had in-principally approved funding of 4.50 billion rupees ($54.09 million) in June to resume operations and restart the airline.
