Skift Take
Historically, any airline that has suspended operations in India has never restarted. But things have come a long way for Go First.
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As part of its revival process, crisis-hit airline Go First's resolution professional has invited expressions of interest from potential bidders to restart operations. It has set August 9 as the last date for submission. The carrier stopped flying on May 3 as more than half of its fleet was grounded due to a lack of Pratt & Whitney engines.
The final list of prospective resolution applicants will be declared on August 19, according to the public notice issued by the company’s resolution professional Shailendra Ajmera. The last date for submitting any objections is August 24.
Last month, Go First's committee of creditors — comprising the Central Bank of India, Bank of Baroda, IDBI Bank and Deutsche Bank — was formed under the Insolvency and Bankruptcy Code, which later submitted a revival plan to aviation watchdog Directorate General of Civil Aviation for restarting operations. Lenders to the airline have an exposure of $797.38 million.
The regulator conducted a special audit of the facilities of Go First in Mumbai and Delhi from July 4 to 6. Based on the audit findings, it will decide on approving the airline's revival plan.
Oyo to Add 500 Hotels in Cricket World Cup Host CitiesBudget hotel operator and aggregator Oyo will add 500 new hotels in host cities over the next three months to meet the increase in booking demand. This year, India will be hosting the International Cricket Council World Cup from October 5 to November