Court orders liquidation of Go First Airways
India’s National Company Law Tribunal has ordered the winding up of bankrupt Go First Air, following a request to do so by its lenders.
Lenders include Central Bank of India, Bank of Baroda, IDBI Bank and Deutsche Bank.
The airline owes more than $780 million.
Go First filed for bankruptcy in 2023 and two bids under the bankruptcy process failed to meet their financial requirements for restructuring the business.
Go First launched in 2005.
With no litigation outstanding or a viable resolution plan, and lessors having already recovered their aircraft, the bankruptcy court ordered the airline’s liquidation.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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