India's Go First lenders to vote on liquidation amid lack of suitors -sources

Central Bank of India

23/11/2023 16:28

By Siddhi Nayak
       MUMBAI, Nov 23 (Reuters) - Go First airline's lenders
will vote on a proposal to liquidate the insolvent Indian
airline, two banking sources told Reuters on Thursday, days
after a deadline to bid for the company ended with no suitors.
    "The proposal whether or not to liquidate the airline has
been floated and individual lenders will take the proposal to
their boards and submit final votes in 10-15 days," said a
banker with a state-run bank that has exposure to Go First. 
        "It appears that there is no interest from suitors for
the airline and bankers are inclined to opt for liquidation
rather than restarting the insolvency process."
    Neither of the bankers wished to be named because they were
not authorised to speak to the media.


 (Reporting by Siddhi Nayak; Editing by Susan Fenton)
 ((Siddhi.Nayak@thomsonreuters.com; +91 22 6921 7848; Reuters
Messaging: Twitter: https://twitter.com/siddhiVnayak))