Bengaluru: India’s SpiceJet is considering an offer for bankrupt carrier Go First, the cash-strapped airline said on Tuesday, days after it barely raised enough funds to get its grounded planes back in the sky.
SpiceJet said it would make the offer, the details of which were not disclosed, after conducting due diligence on Go First’s resolution professional, the official involved in conducting the airline’s insolvency process.
Shares of the carrier rose about 7 per cent to hit more than a year high.
The news comes weeks after Go First’s lenders began contemplating the airline’s liquidation as they failed to get any bids before the deadline of Nov. 21.
