Go First is looking for additional funding of up to $122 million

22 Jun 2023 , 11:43 AM

Go First requested additional funding for its operations from its lenders, according to Reuters.

The airline is looking for between 4 billion and 6 billion ($122 million) in additional funding, according to a report from Reuters, and lenders anticipate to review offers in the next 48 hours.

One of the bankers stated to Reuters that Go First intends to resume operations in July and run 78 daily flights with 22 aircraft, adding that the airline will also need certification from India’s aviation body.

According to a second banker who talked to Reuters, a number of variables, including regulatory permissions, will determine whether operations will resume as anticipated.

Central Bank of India, Bank of Baroda, IDBI Bank, and Deutsche Bank are listed as creditors of Go First in the bankruptcy petition; they are each owing a total of 65.21 billion rupees.

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