Overall volume of digital payments in Mena has grown nearly seven-fold since 2020
business1 day ago
India's Go First has received two financial bids as part of its bankruptcy process, said two bankers who attended a meeting of the airline's creditors held on Friday.
Budget carrier SpiceJet's managing director, Ajay Singh, and Busy Bee Airways have jointly submitted a bid of 16 billion rupees ($193.10 million) for the airline, the bankers said.
"The plan includes additional fund infusion to restart the airline's operations," said a banker with a state-run bank that has exposure to Go First.
The bankers did not wish to be identified as they are not authorised to speak to the media. Go First's resolution professional, who conducts the bankruptcy process, Singh and Spicejet did not respond to emails seeking comment.
"Our bid for launching the airline remains confidential, guarded by the Committee of Creditors (CoC) until a successful bidder is announced," Nishant Pitti, majority shareholder of Busy Bee Airways, said.
ALSO READ:
Overall volume of digital payments in Mena has grown nearly seven-fold since 2020
business1 day ago
In 2023, total consumption of gold in the UAE reached 39.7 tonnes
business1 day ago
Maritime India Vision 2030 envisions investment of Rs1.25 trillion
business1 day ago
Profitability, cash flow and capital expenditure guidance reiterated
business1 day ago
Swiss pharma firm has an annual capacity of 250 million tablets
business1 day ago
The total income for the period was Dh791.88 million
business1 day ago
As per the chairman of the UAE Banks Federation, the corporate tax in the Emirates is quite low compared to other countries
business1 day ago
Foreign investors took out more than $2 billion from Indian equities last week
business2 days ago