Go First Airline, on June 27, yet again announced the cancellation of all its flights until June 30, 2023 due to operational reasons.
On June 26, lenders to Go First, which is under bankruptcy protection, had approved interim funding of $54.9 million to resume operations and restart the airline, two banking sources had said.
The airline was granted bankruptcy protection on May 10. Reuters reported last week that the airline has sought 4 billion-6 billion rupees in additional funds from banks. “This interim funding does not come with collateral, it will be a part of the insolvency cost and will be given priority over other dues,” said one of the bankers.
