Jindal Power scraps plan to bid for bankrupt Go First

Updated: Nov 21 2023 6:24PM

Jindal Power scraps plan to bid for bankrupt Go First

New Delhi, Nov 21 (PTI) Jindal Power has decided not to go ahead with its plan to bid for Go First, which is undergoing an insolvency resolution process, according to industry sources.

Budget carrier Go First stopped flying in early May and filed for voluntary bankruptcy proceedings amid financial woes, mainly triggered by engine issues.

Last month, Jindal Power had put in an Expression of Interest (EoI) for the bankrupt airline. It was submitted to get details about the valuation of the assets and documents.

Press Trust Of India (PTI) is India's premier news agency, with a reach as vast as the Indian Railways'. It employs nearly 400 journalists and 500 stringers to cover almost every city and small town in India. Collectively, our journalists put out more than 1,000 stories and 250 photographs including graphics every day to feed the appetite of the diverse subscribers, who include the mainstream media, the specialized presses, research groups, companies, and government and non-governmental organizations.

General Access

Add On Customer Packages

The Press Trust Of India Ltd.

PTI building 4, Parliament Street, New Delhi-110 001

© PTI 2021, All Right Reserved

Designed by: 4c Plus