GO FIRST moves NCLT for voluntary bankruptcy

While GO FIRST awaits admission into the NCLT proceedings, it has set up a list of detailed FAQs on its site. The airline said it regretted the interruption and trouble that its customers, travel partners, creditors, suppliers and workers, who have remained committed to and grown with Go First, must face as a result.   

“We have been obliged to take this action despite the promoters’ investment of Rs 3,200 crore in the airline over the last three years, Rs 2,400 crore of which were infused in the last 24 months, Rs 290 crore in April 2023 alone. This takes the total promoter investment in the airline to almost Rs 6,500 crore since its establishment.

“Go First has also received significant assistance from the Government of India’s Emergency Credit Line Guarantee Scheme,” the airline said, stating that it took all measures to safeguard the interests of its stakeholders.

Figures in this story have been updated

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