MUMBAI : EY India, the designated process adviser to Go Airlines (India) Ltds corporate insolvency resolution process, is likely to recommend the airlines lead creditors to infuse as much as 500 crore into the carrier to facilitate the immediate resumption of flight operations as Indias aviation industry records a resurgence in air passenger traffic, a person familiar with the development said.
The committee of creditors (CoC) has agreed to the informal proposal of interim finance and cash-and-carry based flight operations in-principal,” the person said, requesting anonymity.
The interim finance, worth 200-500 crore (depending on the demand and scale), will help Go First resume its flight operations on a cash-and-carry basis, accord…
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