Go First has floated Expression of Interest (EoI) from potential bidders. Shailendra Ajmera, the resolutions professional appointed by the court to oversee the insolvency process, said the last date to receive bids is August 09.
A newspaper advertisement was published mentioning the last date for receipt of interest in the airline to be August 9. The first provisional list will be declared on August 19.
Go Airlines currently has 4,200 employees on its payroll, per the advertisement. However, in its submission to NCLT, the airline had stated that it employed 7,000 individuals.
“Company operates in the aviation sector and has assets located across the country in various airports. The total revenue from operations for FY 2021-22 is INR 41.83bn,” the ad stated.
The resolution professional overseeing the process will closely monitor the EOIs received by the August 9 deadline and subsequently announce a provisional list of interested parties on August 19.
Sources claim that the Wadia Group, owners of Go First are likely to bid for the airline.