The deadline for submitting preliminary interest to bid for insolvent Go Airlines (India) is likely to be extended by another two-to-three weeks amid lack of any such application by suitors, two banking sources told Reuters on Friday.
The resolution professional for the company, which operated the Go First carrier, had in July invited investor interest on behalf of creditors after the airline filed for insolvency in May.
The deadline was initially set for August 9, but was later extended to September 8.
"There is no formal EoI (Expression of Interest) as on the September 8 deadline," said a banker with a state-run bank that has exposure to the carrier.
The bankers did not wish to be identified as they were not authorised to speak to the media. Go Airline's resolution professional, who conducts the insolvency process, did not immediately respond to a Reuters request for comment.
09/09/2023 Reuters/ZeeBiz
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