HomeAviation NewsGo First to receive Rs 600 crore by April end to overcome operational issues

Go First to receive Rs 600 crore by April end to overcome operational issues

Go First is expected to use the funds to address supply chain disruptions that have grounded over 50 percent of its planes, leading to significant operational losses in the last fiscal year.

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By Daanish Anand  April 18, 2023, 9:05:08 PM IST (Updated)

1 Min Read
Go First to receive Rs 600 crore by April end to overcome operational issues
Go First, formerly known as GoAir, is set to receive a major financial boost as the company looks to overcome operational challenges that have weighed heavily on its bottom line. According to sources on Monday, the airline is poised to receive Rs 600 crore in promoter equity and bank debt, with the funds expected to be disbursed by the end of April.


The capital infusion is being led by the Wadia Group, which will reportedly provide Rs 300 crore, along with a consortium of banks that have also committed to investing the same amount.

Go First is expected to use the funds to address supply chain disruptions that have grounded over 50 percent of its planes, leading to significant operational losses in the last fiscal year.

Go First's financial struggles have been well documented, with the airline posting its highest operational loss in FY22. The company has been exploring various options to improve its fortunes, including expanding its operations and exploring new markets.

Also read: Air India sweetens salary packages for pilots & cabin crew, hikes guaranteed flying allowance to 40 hours
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