Go First Airline: Opportunity till January 31 to buy Go First Airline, Spice Jet leads the race

Go First Airline: Opportunity till January 31 to buy Go First Airline, Spice Jet leads the race

Bankrupt Airline: Investors have been given a chance till January 31 to buy Go First Airline, which has closed down due to debt. Go First had filed for bankruptcy in May last year. Lenders have tried unsuccessfully to sell it several times. Now after showing interest from other companies including SpiceJet Airline, an attempt is being made once again to sell Go First. 

Chances of selling Go First airline increased

Sources in the banking sector with knowledge of the matter told Mint that the possibility of sale of Go First Airline, owned by Wadia Group, has increased. Therefore, the lending banks have decided to make another attempt. Lenders have invited tenders to sell Go First. If good tenders come this time, the lenders are hoping to get back a lot of their money by selling it. 

Airlines have to repay Rs 65.21 billion to banks

According to Go First's bankruptcy petition, the airline owes around Rs 65.21 billion to Central Bank of India, Bank of Baroda, IDBI Bank and Deutsche Bank. Are. 

4 companies including Spice Jet are interested 

Last month, Spice Jet of the Indian aviation sector had expressed its desire to buy Go First. According to sources, apart from this, Sharjah's Sky One, African company Safrik Investments and America's NS Aviation are also interested in buying Go First. However, at present these three companies have not said anything openly about this.  

If necessary, the deadline can be extended further 

A banker said that if the companies asked for more time, the Committee of Creditors could extend the January 31 deadline. Go First's resolution professional has also not commented on this matter at present.

Read this also 

Tesla in India: Tesla's $30 billion plan ready for India, will also build plants and charging infrastructure

Get more latest business news updates

Scroll to Top