Cash-Strapped Airline Go First Looks For Bidders To Fly Again
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The liabilities of Go First are worth Rs 11,463 crore (Representational) New Delhi: Go First's resolution professional on Monday invited expressions of interest till August 9 from potential bidders for the grounded budget airline, which is working on ways to restart operations. The cash-strapped carrier stopped flying on May 3 and is undergoing the voluntary insolvency resolution process. The deadline for submitting Expressions of Interest (EoIs) is August 9 and the final list of prospective resolution applicants will be declared on August 19, according to the public notice issued by the resolution professional Shailendra Ajmera. The last date for submitting any objections to the provisional list is August 24. On May 2, the no-frills airline filed for voluntary insolvency resolution proceedings before the National Company Law Tribunal (NCLT) and the plea was admitted on May 10. Go First, which had been flying for more than 17 years, began facing severe financial headwin