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Go First lenders have asked resolution professional Shailendra Ajmera to evaluate the revival plans of grounded airline.
SpiceJet promoter Ajay Singh and aviation firm Sky One submitted resolution plans for reviving Go First last week. These were opened in a committee of creditors meeting on Friday.
“We have asked the resolution professional to analyse the plans and submit a summary by Monday,” said an executive familiar with the process.
Lenders are also seeking clarity on the plans of bidders to settle their claims.
“There seem to be a lot of conditions regarding creditor payments in the plan. Banks will take further steps based on evaluation,” the executive said.
While Singh has teamed up with EaseMyTrip founder Nishant Pitti’s firm Busy Bee Airways Pvt Limited, Sharjah- headquartered aviation firm Sky One has bid separately.
The separate bids offer a ray of hope for the Wadia-group owned airline that suspended operations last May due to a cash crunch resulting from Pratt & Whitney engine woes.
Also read: FinMin notifies Akasa Air as ‘designated Indian carrier’
The airline has lost most of its workforce and is battling against lessors to save 49 of its 54 Airbus aircraft from seizure. A source said the grounded airline has creditor claims of more than ₹15,000 crore including nearly ₹3,800 crore due to banks.
“Our bid for launching the airline remains confidential...guarded by the committee of creditors (CoC) until a successful bidder is announced. With a clear objective in mind, we are poised to commence operations swiftly, ensuring GoFirst takes to the skies without delay,“ said Nishant Pitti, CEO & co-founder of EaseMyTrip.
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