Relief for GO First as it secures interim funding of INR 4bn from lenders

In a relief for Go First, the airline’s lenders have granted approval for an interim funding of approximately INR 4000 million, as per sources. This is a huge step in the airline’s efforts to revive commercial operations and keep the carrier afloat. While an in-principal approval for the interim finance has been granted, the plan is subject to the boards of the respective banks approving the same. The Committee of Creditors (CoC) that include Central Bank of India, Bank of Baroda, Deutsche Bank and IDBI Bank approved the request for additional funding. The banks will now seek board approvals to