Go First Airlines (formerly known as Go Airlines) of India has commenced the search for potential investors as part of its ongoing insolvency proceedings, as stated in a newspaper advertisement released on Monday. The airline has taken this step in compliance with the procedural requirements mandated by Indian law.
According to two bankers familiar with the matter, the Wadia Group, which previously owned Go Airlines before it filed for bankruptcy, is anticipated to participate in the airline’s insolvency process. However, the Wadia Group has not directly conveyed their intentions to the bankers involved in the process. Go First Airlines and Ness Wadia, representing the Wadia Group, have not responded to requests for comment from Reuters…
Read the full article at: https://www.theweek.in/news/biz-tech/2023/07/10/go-first-airlines-initiates-investor-interest-amid-ongoing-insol.html