A resolution professional overseeing the insolvency process for Go First (G8) has initiated the next phase by inviting an Expression of Interest (EOI) for the sale of the carrier, as reported in an advertisement in ET on Monday.
Go first news
In a significant development for Go First (G8), a court in Singapore has ruled that engine manufacturer Pratt & Whitney must deliver five engines per month to the airline between August and December.
Despite its crisis, Bankrupt Go First (G8) is reportedly planning to introduce Airbus A320 family aircraft equipped with CFM engines once it resumes flight operations, according to sources cited in a media report.
Directorate General of Civil Aviation (DGCA), the aviation regulator, has commenced a special audit of Go First (G8)’s facilities as the airline seeks approval to resume operations.
Creditors and Banks have agreed to inject fresh funds into the temporarily halted carrier, Go First (G8), but the fate of the carrier hinges on an upcoming order from the Singapore arbitration court.
DGCA has announced that it will conduct a special audit of Wadia-owned Go First (G8), which filed for bankruptcy two months ago, to assess its readiness for resuming operations.
MUMBAI- Cash-strapped airline Go First (G8) has submitted its revival plan to the Directorate General of Civil Aviation (DGCA), proposing a swift resumption of operations, as per reports.
Go First (G8) Airlines resolution professional (RP) Shailendra Ajmera has approached the airlines’ financiers, seeking Rs 425 crore in interim finance to kickstart a revival plan that could facilitate the restart of operations,
Go First (G8), a financially strained budget airline, has requested additional funding of Rs 400-600 crore from its lenders to revive its operations.
Go First (G8), has once again extended the flight cancellations till June 25, and it will not restart operations until DGCA and MoCA give it permission to do so.