New hope has arisen at the last moment for the troubled airline Go-First. SpiceJet has shown its interest in Go First, in its exchange filing, SpiceJet has said that it has expressed its desire to make an offer to the resolution professional of Go First. After this news, the shares of SpiceJet airline have also gained wings. Today a rise of more than 5% is being seen in the shares. Go First is currently going through the insolvency process.
SpiceJet confirmed
Earlier it was reported that apart from the two bidders, SpiceJet can also show its interest for Go First. Today, SpiceJet itself has confirmed this through exchange filing. SpiceJet said in its exchange filing that our aim is to build a strong and efficient airline with a low-cost airline.
NDTV Profit had earlier reported that just before going into liquidation, two new expressions of interest (EoI) have been received from two bidders for the airline, that is, two bidders have shown their interest in the airline. This information has been given by two people keeping an eye on the matter.
SpiceJet shares got wings
SpiceJet can give offer for Go First, after this news, there is a huge rise in the shares of SpiceJet for the last two days. SpiceJet’s shares have risen by 30% in two trending sessions.
Where to get EoI
Africa’s Safrik and Sharjah’s aviation company Sky One have jointly given EoI for Go First which is going through the insolvency process. People having knowledge of the matter have told this on the condition of not revealing their identity. He told that SpiceJet has also separately shown its interest in the airline.
Sky One bills itself as the “aviation expert” It provides a range of services including cargo charter, asset trading, crew training, operations and maintenance. Whereas Safaree invests extensively in infrastructure, technological innovation and finances mergers and acquisitions in Africa, the Middle East and the Americas.
SpiceJet has recently approved raising funds of Rs 2,250 crore through preferential allotment of equity shares. The airline reported a net loss of Rs 431 crore in the September quarter, down from a loss of Rs 838 crore reported a year ago. The airline is currently struggling with cash crunch and has postponed payments to lessors and other vendors.
