- ₹2,500 cr The amount Go First owes to its lenders
- 8% Rise in domestic traffic in May from pre-covid levels
EY India, the designated process adviser to Go Airlines (India) Ltd’s corporate insolvency resolution process, is likely to recommend the airline’s lead creditors to infuse as much as ₹500 crore into the carrier to facilitate the immediate resumption of flight operations as India’s aviation industry records a resurgence in air passenger traffic, a person familiar with the development said.
“The committee of creditors (CoC) has agreed to the informal proposal of interim finance and cash-and-carry based flight operations in-principal," the person said, requesting anonymity.
The interim finance, worth ₹200-500 crore (depending on the demand and scale), will help Go First resume its flight operations on a cash-and-carry basis, according to the person. Go First owes at least ₹2,500 crore to its lenders and about ₹8,500 crore to its lessors.
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