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Tag: insolvency

Aviation
Lenders to Go First likely to extend deadline for seeking investor interest

Lenders to Go First likely to extend deadline for seeking investor interest

The deadline for submitting preliminary interest to bid for insolvent Go Airlines (India) is likely to be extended by another two-to-three weeks amid lack of any such application by suitors. The resolution professional for the

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Go First invites investor interest for insolvency

Go First invites investor interest for insolvency

Go First has invited investor interest in the company through a court-appointed administrator as part of the carrier's ongoing insolvency, a newspaper advertisement showed on Monday. The process is in line with procedural requirements under

Aviation
There is absolutely no question of filing for insolvency, says SpiceJet CMD Ajay Singh

There is absolutely no question of filing for insolvency, says SpiceJet CMD Ajay Singh

SpiceJet has categorically ruled out filing for insolvency. And initiated the process of reviving its grounded fleet with the $50 million funds received by the airline from the government’s Emergency Credit Line Guarantee Scheme (ECLGS)

Aviation
Go First Gets Insolvency Cover, Tribunal Orders No Sacking Of Employees

Go First Gets Insolvency Cover, Tribunal Orders No Sacking Of Employees

In a major relief for the struggling budget airline Go First, the National Company Law Tribunal (NCLT) today admitted its voluntary plea to initiate an insolvency resolution process, which is aimed at restructuring debt and

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TAAI expresses concern over Go First filing for insolvency

TAAI expresses concern over Go First filing for insolvency

TAAI President Jyoti Mayal has expressed concern over the sudden cancellation of all flights by GO First Airline on 3rd & 4th May 2023, stating that it has put the aviation industry in a state

Aviation
Go First files for bankruptcy; suspends flights for 3 days over engine issues

Go First files for bankruptcy; suspends flights for 3 days over engine issues

Go First, a low-cost airline, has suspended its flights for three days and filed for bankruptcy due to mounting losses attributed to delays in the delivery of Pratt and Whitney engines, which have grounded half

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