SpiceJet, Sky One, and Safrik Investments have shown interest in acquiring bankrupt carrier Go First, according to an Economic Times report.
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Bid extension request
The three entities have requested an extension for submitting their bids as lenders weigh liquidation.
3
Insolvency resolution extended
The National Company Law Tribunal has extended Go First's insolvency resolution process by 90 days until February 4, 2024.
4
Lenders' financial concerns
Lenders are concerned about the financial capabilities of the interested parties and anticipate better recovery from ongoing arbitration with Pratt & Whitney.
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Potential liquidation
If Go First fails to complete the resolution process within the given timeframe, liquidation will be initiated.