With 22 aeroplanes, Go First intends to fly around 150 flights every day. In the beginning, the airline also intends to run charter flights for the armed forces.

The lenders of Go First have given their backing to the airline’s request for a temporary loan of ₹400 crore so that it can resume operations.

The airline temporarily ceased operations on May 2, and on May 10 the National Company Law Tribunal (NCLT) accepted the carrier’s insolvency plea. Shailendra Ajmera, the airline’s resolution specialist, gave the committee of creditors (CoC) a business plan and a request for more than ₹400 crore in finance on Wednesday.

The CoC is made up of Go First’s lenders, including Bank of Baroda, Central Bank of India, Deutsche Bank, and IDBI Bank, who have a combined exposure to the airline of more than ₹6,500 crore. On Thursday, bank executives gathered once more to go over the airline’s finance request.

Although the lenders have given their in-principle approval, the additional funding still needs the boards of the different banks’ approval. Once the DGCA approves the plans, this will take place.

The extra money would be considered interim financing, which is given precedence over all other debt during the insolvency process. “Lenders are trying for a unanimous decision, so that all lenders loan extra funds,” the insider claimed.

With 22 aeroplanes, Go First intends to fly around 150 flights every day. In the beginning, the airline also intends to run charter flights for the armed forces.

Along with informing DGCA officials about their efforts to resume operations, Ajmera and top executives also addressed their concerns. The regulator’s top priorities are the financial viability, airworthiness, and customer interests of the airline.