Lenders for Go Airlines are waiting for the decision of the Directorate General of Civil Aviation (DGCA) before providing interim loans as part of the airline’s revival plan. Although the airline may require ₹200 crore to resume operations, the amount of additional funding depends on the scale of the airline’s operations. The airline intends to start with five aircraft and may increase this number to 25 over time, subject to the availability of funds. Bankers believe that the airline is ready to restart services, given that it has retained 50-60% of its pilots and most of its ground staff. The lenders are aware of the lengthy revival process of Jet Airways and do not want to lend more if the regulator is not satisfied with Go Air’s plan. The sovereign-backed Emergency Credit Line Guarantee Scheme, which was introduced to assist small businesses during the pandemic, was also extended to other industries affected by the pandemic like Go Airlines; the scheme is backed by central banks in case of potential default.
Go Air’s Creditors Await Flight Plan from DGCA
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