SpiceJet to Bid for Go First
SpiceJet Limited has announced in reference to ongoing corporate insolvency resolution process of Go Airlines (India) Limited (Go First) under the Insolvency and Bankruptcy Code, 2016.
SpiceJet has expressed interest with the Resolution Professional of Go First and wish to submit an offer post diligence, with a view to creating a strong and viable airline in a possible combination with SpiceJet.
The Board of the Company has recently approved and initiated process of raising fresh capital of about US$ 270 million to strengthen its financial position and provide resources to invest in growth plans.
