Mumbai: Preliminary talks on a possible rescue of grounded budget carrier Go First through the insolvency process have been initiated with a few financial investors, including a leading global private equity fund, said people with knowledge of the matter. Those approached as potential bidders include several large global structured credit and special situations funds that typically invest in distressed debt via a convertible structure with a potential equity upside, they said.
Top executives close to the development told ET that all stakeholders, including promoter Wadia Group, are keen that the airline should be revived.
“It will take deep pockets to get Go Air off the ground and stakeholders will have to take haircuts to get the airl…
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