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Liquidation is on the table for India’s Go First
May 2nd 2024
Lenders to India LCC, Go First, are exploring all options for the bankrupt airline, including liquidation, India’s Financial Express reports. Read More » The Committee of Creditors (CoC) met on April 29 and is scheduled to reconvene at press time, unnamed sources have told the news platform. On April 26 the courts ruled lessors could repossess their aircraft from the carrier. As a result, the airline seems to have lost all value and there is very little hope of a bounce back, one banker told media. The airline’s debt is calculated to be 65.21 billion rupees ($780.88 million). Creditors include the Central Bank of India, Bank of Baroda, IDBI Bank, and Deutsche Bank.
