Go Airlines India Ltd, the entity that operates Go First Airlines is looking to collect around Rs 600-700 crore and begin its services with fewer flights than originally planned, Mint reported.
“We have revised our original plan. We may resume flight operations with 10-15 aircraft but go for higher interim financing from the creditors,” an unnamed person privy to the updates told Mint.
Previously, Go Air planned to begin its operations with 26 aircraft by making arrangements for Rs 400-500 crore from its lenders. However, now the airline is considering keeping some cash in its hands and starting its operations with fewer aircraft.
