Summary
- Go First has received approval for $12 million to cover urgent financial liabilities.
- The funds will be used to pay for employee salaries, airport fees, aircraft upkeep, and other mandatory expenses.
- However, Go First still faces challenges, including employee retention issues, a decrease in the number of pilots, and disputes with lessors.
Indias cash-strapped and grounded budget carrier Go First has been granted $12 million as corporate Insolvency Resolution Process (CIRP) cost to take care of urgent and mandatory liabilities. The airline is in the process of making a comeback, but no date has been finalized yet. It has several financial liabilities, such as aircraft upkeep, employee salaries, and airport fees, among m…
Read the full article at: https://simpleflying.com/go-first-stays-afloat-with-emergency-funds/