Go First has prepared to recover damages of $ 1.1 billion from Pratt & Whitney.Image Credit source: File Photo
Go First Airline’s troubles are not taking the name of abatement. Go First Airline has once again extended its hands in front of the banks to revive itself and fly. Debt-ridden and going through bankruptcy proceedings, GoFirst Airline has sought funds of 400 to 600 crores from banks to fly.
Let us tell you, Go First Airline has held a meeting with the creditors. In which the airline company has demanded more funds to resume its flight. The airline has demanded 4 billion to 6 billion funds from the lenders.
According to Reuters sources, the proposal is expected to be evaluated by the creditors in the next 48 hours.
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Go First needs 6 billion rupees
GoFirst Airline, which is going through bankruptcy proceedings, told that it needs 4 to 6 billion funds immediately to start its flights. After which the company can resume its services. Let me tell you, it has been more than a month and a half since the flights of the company were stopped. The company had placed the information of bankruptcy in front of NCLT on May 2, after which its flights have been closed.
NCLT gave time
On May 10, NCLT had approved the petition given by Go First for bankruptcy proceedings. Abhilash Lal was appointed by NCLT as its interim resolution professional. However, resolution professionals have been appointed to Ajmera in place of Abhilash Lal.
