Go First’s lenders will vote on a proposal to liquidate the insolvent Indian airline, two banking sources told Reuters on Thursday, days after a deadline to bid for the company ended with no suitors.
“The proposal whether or not to liquidate the airline has been floated and individual lenders will take the proposal to their boards and submit final votes in 10-15 days,” said a banker with a state-run bank that has exposure to Go First.
“It appears that there is no interest from suitors for the airline and bankers are inclined to opt for liquidation rather than restarting the insolvency process.”
