Another airline backed by a billionaire is on the brink of shutting down for good, having tried and so far failed to attract a savior after entering bankruptcy protection in May.
India Business News: Go Airlines India Ltd.'s CEO Kaushik Khona quit due to the carrier's inability to resume operations and unpaid staff. The airline has canceled all fli
Currently, SpiceJet s promoters, led by Ajay Singh, hold a 56.5 percent stake in the company. Of this, 37.9 percent is pledged with various lenders. The airline posted a net loss of Rs 431.54 in Q2FY24, compared to a net loss of Rs 837.8 crore in the same period a year ago.
The airline’s lenders could vote on a proposal to liquidate the insolvent airline as early as this week, Moneycontrol has learnt. With this, another domestic airline’s days are set to come to an end
India Business News: The GoAir revival saga could come to an end this week with the Committee of Creditors (CoC) going to decide whether to opt for liquidation or for a second round of inviting expression of interest (EOI).