Lenders to India’s Go First remain hesitant to disburse additional funding to the grounded airline. This reluctance is attributed to the airline’s ongoing legal issues with lessors and the complexities surrounding recent changes in bankruptcy law, as conveyed by two banking sources to Reuters on Monday.
In June, Go First’s lenders, including the Central Bank of India, Bank of Baroda, IDBI Bank, and Deutsche Bank, had provisionally approved funding amounting to 4.50 billion rupees ($54.09 million) with the intention of resuming operations and reviving the airline.
