Essayer OR - Gratuit
Go First secures ₹450 cr funding
Mint Mumbai
|June 26, 2023
Go Airlines (India) Ltd, the low-fare carrier that filed for bankruptcy last month, secured lenders' approval for interim funding of ₹450 crore, potentially paving the way for the grounded airline to resume operations.
While an in-principle approval for interim funds has been granted, the plan is subject to approval from the respective boards of the banks, said one of the people cited above.
The decision was taken at a joint lenders' meeting on Saturday. Central Bank of India, Bank of Baroda, and IDBI Bank are part of the lenders' consortium of Go First.
A senior Go First executive said it might only need ₹200-250 crore to resume operation. "The airline may not require the full amount as it will start generating cash after starting operations," he said.
Queries to the resolution professional Shailendra Ajmera didn't elicit a response till press time.
Cette histoire est tirée de l'édition June 26, 2023 de Mint Mumbai.
Abonnez-vous à Magzter GOLD pour accéder à des milliers d'histoires premium sélectionnées et à plus de 9 000 magazines et journaux.
Déjà abonné ? Se connecter
PLUS D'HISTOIRES DE Mint Mumbai
Mint Mumbai
Upward mobility among India’s worst off may be a turning point
The past decade saw a striking change in household consumption: those at the bottom of the pyramid made dramatic gains
4 mins
June 25, 2026
Mint Mumbai
Actis sells over 2% stake in Pine Labs
Financial services company Actis on Wednesday divested a little over 2% stake in fintech firm Pine Labs for ₹371 crore through an open market transaction.
1 min
June 25, 2026
Mint Mumbai
HOW A $45 MN DONATION BROUGHT ELLISON DEEPER INTO TRUMP'S CIRCLE
The billionaire’s private friendship with the president has helped Oracle’s business and his son’s media conglomerate
6 mins
June 25, 2026
Mint Mumbai
Inside the ruins of Bacaim, the forgotten capital
Vasai Fort was once a sprawling walled city and the capital of the Portuguese’s northern territory in India
4 mins
June 25, 2026
Mint Mumbai
PSU banks’ stressed asset sales falter
India’s 12 public sector banks (PSBs) continue to struggle to recover sour loans despite a unified digital auction platform to seamlessly monetize stressed assets, amid legal uncertainties and a gap between lender expectations and buyer bids.
2 mins
June 25, 2026
Mint Mumbai
Greenspan era: market economics went too far
Central bank heads globally mustn't forget how an asset bubble got inflated under the once celebrated US Federal Reserve chair’s watch. They should trust markets, but verify their role
2 mins
June 25, 2026
Mint Mumbai
RBI proposes AI risks guidelines
India’ central bank has proposed rules requiring banks to strengthen oversight of risks tied to AI and machine-learning models, mandating board-approved policies, stronger controls and model inventories.
1 min
June 25, 2026
Mint Mumbai
Russia’s Wiki warfare tries to distort reality, documents show
Russian influence operators have a new Project 2026. The plan wasn’t just to spread fabricated stories on social media platforms. It outlined efforts to create an alternative information ecosystem.
3 mins
June 25, 2026
Mint Mumbai
Indigo Paints puts growth before margins
Indigo Paints is looking to shed its conservative approach and prioritize growth over profitability, marking a significant shift for a company known for protecting its industry-leading margins.
2 mins
June 25, 2026
Mint Mumbai
MUFG consolidates Ganesha Fund with Dragon
Mitsubishi UFJ Financial Group and its subsidiary MUFG Bank will integrate the operating functions of the Ganesha Fund, an entity that invests in startups in India, with Dragon Funds to consolidate management of the corpus.
1 min
June 25, 2026
Translate
Change font size