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MUMBAI: Lenders to Go First (earlier known as GoAir) have set January 31 as the deadline for financial bids to acquire the airline, two banking sources said on Sunday.
Go First filed for bankruptcy protection in May, but lenders have more recently been considering liquidating the airline after failing to secure new investors.
“Banks have decided to give the resolution process another go and allow those suitors who have shown prior interest a chance to submit a concrete bid,” said a banker with a state-run bank that has exposure to Go First. SpiceJet said last month that it was considering an offer for Go First after conducting due diligence. UAE-based Sky One, Africa-focused Safrik Investments and US-based NS Aviation have also shown interest in Go First, the two sources said. Reuters
Go First filed for bankruptcy protection in May, but lenders have more recently been considering liquidating the airline after failing to secure new investors.
“Banks have decided to give the resolution process another go and allow those suitors who have shown prior interest a chance to submit a concrete bid,” said a banker with a state-run bank that has exposure to Go First. SpiceJet said last month that it was considering an offer for Go First after conducting due diligence. UAE-based Sky One, Africa-focused Safrik Investments and US-based NS Aviation have also shown interest in Go First, the two sources said. Reuters
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