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Three companies have expressed interest in buying bankrupt domestic airline GoFirst. Sharjah’s aviation company Sky One, Africa’s Safric Investments and local company SpiceJet are also looking to acquire GoFirst. The move is being seen at a time when the deadline has been over a week away. These things have come to light in ET’s report.
The deadline will be extended!
Shailendra Ajmera, who is monitoring the entire process, has received requests from these companies. According to people with knowledge of the matter, all this has happened during the last 10 days. Companies expressing willingness to buy Go First have also requested an extension of the deadline. The committee will decide in the coming days whether to extend the deadline or not. Let us tell you that no official statement has been issued by any party yet.
Before opening the IPO, the company raised Rs. 285 crore raised, GMP proud
The last date for inviting bids for Go First was 22 November 2023. But till then no company expressed their desire to buy it. Also no proposal has been presented. Let us tell you that all the flights of the company have been canceled till February 4.
Serious allegations against Pratt & Whitney
Lenders and the body overseeing the bankruptcy process expect better recoveries from the bid. Go First has sought $1 billion from engine manufacturing company Pratt & Whitney. This American company is accused of changing engines on time in Go First ships. Due to which more than half of the planes were not able to run. Due to which the airline company is in this predicament today.
Lenders have expressed concern about the financial standing of new investors.