Go First loan won’t cause losses, hopeful about airline: Central Bank execs

Central Bank of India has said that it does not expect to suffer a hair cut or loss for its Rs 1,400 crore exposure to Go First, the no-frills airline under insolvency proceedings.

The public sector lender maintains close to 60 per cent provision against loans to the Wadia group airline, which it is optimistic about in light of revival plans.

Go First stopped commercial operations on May 3, 2023. Later in the same month, the National Company Law Tribunal (NCLT) admitted its plea for voluntary insolvency and initiated a corporate insolvency resolution process (CIRP).