India’s Go First airline, formerly known as GoAir, is currently undergoing the insolvency process and is actively seeking investors. The airline’s financial struggles led to its admission to the National Company Law Tribunal (NCLT) insolvency proceedings in June 2023.
To secure the necessary financial assistance, Go First has invited potential investors to express their interest. The airline is open to investments in equity or debt and is even considering a strategic sale of the company. The deadline for submitting expressions of interest is July 25, 2023.
Once the submission period is over, Go First will evaluate the received expressions of interest and select one or more investors to proceed with the transaction.
If successful, the airline will resume operations and continue providing air travel services throughout India. However, if investors are not found, Go First may be forced to cease operations and liquidate its assets.
The outcome of Go First’s insolvency process remains uncertain, as it is still ongoing. Nonetheless, the airline’s active pursuit of investor interest brings a glimmer of hope for its future prospects.
