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Go First seeking additional INR 6bn: Report

Defunct airline Go First has sought additional funds at a lenders meeting on Wednesday, sources said, reports Reuters.

The airline is asking for between INR 4 billion and 6 billion in additional funds, the sources said, with lenders expected to evaluate proposals in the next 48 hours.

Go First plans to resume operations in July and operate 78 daily flights with 22 aircraft, one of the bankers said, adding that the airline will also require approval from India’s aviation watchdog.

The planned resumption of operations depends on a number of factors including regulatory approvals, a second banker said.

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