As per a report on PTI, lenders have committed an interim funding of around Rs 450 crore to Go First, considering a day s operations are expected to cost around Rs 10 crore.
Apart from the uncertainty staring at more than 7,000 Go First staff, a spike in air ticket prices on certain routes that used to be serviced by the airline is witnessed.
Indian aviation watchdog DGCA has advised Go First to submit a comprehensive restructuring/revival plan for a sustainable revival of operations, within a period of 30 days.
Go First Insolvency: According to the order by NCLT, IRP has been asked to take necessary steps including execution of the arbitral awards, keep it as a going concern and run its services smoothly.