India: Go First receives quick emergency loan

Insolvent airline Go First was no longer able to sustain the ongoing operating costs incurred during the shutdown. A $12,1 million emergency loan has now been granted under local bankruptcy law.

For financial reasons, Go First had to cease flight operations at the beginning of May 2023 and subsequently file for bankruptcy. The announced resumption of flight operations has been pushed back again and again. Several Indian banks now control the company. They also provided the most recent emergency funding.