Today, bids for the bankrupt airline Go First will be unveiled as lenders seek potential buyers. The creditors of Go First, alongside the committee overseeing the bankruptcy proceedings, are set to convene today to assess the bids. Sources informed CNBC-TV18 that the lenders and the Insolvency Resolution Professional (IRP) will reveal the bids during this meeting.
As reported by CNBC TV18 last week, SpiceJet’s Chairman and Managing Director Ajay Singh, along with Busy Bee Airways, primarily owned by EaseMyTrip CEO Nishant Pitti, jointly submitted a bid for Go First airlines on Friday, February 16.
Nearly ten months ago, Go First initiated a voluntary insolvency process, resulting in the airline’s grounding, with the aim of restructuring operations and resuming flights. The Committee of Creditors and the Resolution Professionals are now seeking a new buyer. Despite previous attempts, they have yet to secure a successful bid, making this the third endeavor to find a winning offer.
