Opportunity till January 31 to buy GoFirst Airline, SpiceJet at the forefront of the race

Insolvent Airline: Investors have been given until January 31 to buy the debt-ridden GoFirst airline. GoFirst filed for bankruptcy in May last year. Creditors have tried unsuccessfully to sell it several times. Now, efforts are being made to sell GoFirst once again after other companies including SpiceJet Airlines have shown interest.

Go First Airline’s sales prospects increased.

Sources in the banking sector with knowledge of the matter told Mint that the sale of Wadia Group-owned GoFirst Airlines has increased. Therefore, lending banks have decided to make another attempt. The lenders have called for tenders to sell GoFirst. If good tenders come in this time, the lenders hope to sell it and recoup much of their money.

Airlines have to return Rs 65.21 billion to banks.

According to GoFirst’s bankruptcy filing, the airline owes about Rs 65.21 billion to Central Bank of India, Bank of Baroda, IDBI Bank and Deutsche Bank.

4 companies including SpiceJet are interested.

Last month, Indian aviation giant SpiceJet expressed interest in buying GoFirst. According to sources, Sharjah’s Sky One, African company Safrik Investments and America’s NS Aviation are also interested in buying Go First. However, currently these three companies have not said anything openly about this.

The deadline may be further extended if required.

A banker said the committee of creditors could extend the January 31 deadline if the companies asked for more time. GoFirst’s resolution professional has also not commented on the matter at this time.

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