Go First gets claims worth $2.9 billion from creditors: Sources

economictimes.indiatimes.com:

Go Airlines (India) Ltd has received claims worth Rs 24,000 crore ($2.9 billion) from operational and financial creditors so far as part of the carrier's ongoing insolvency, two banking sources told Reuters. The process is in line with procedural requirements under Indian law which allow every creditor a right to payment and remedy by submitting claims if a company is under bankruptcy. Once the claims are filed, the resolution professional has to check its authenticity. «Claims from the lenders are around Rs 5000 crore, while lessors' claims amount to Rs 180 crore so far,» a banker with a state-run bank, who has exposure to Go Airlines said, after a meeting of the committee of creditors on Friday. The bankers did not wish to be identified because they were not authorised to speak to the media. Go Airline's resolution professional has yet to verify the veracity of the claims and did not immediately respond to a Reuters' email seeking comment.

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Go Airlines, which operated the Go First carrier, filed for bankruptcy protection in May blaming «faulty» Pratt & Whitney engines for the grounding of about half its 54 Airbus A320neos. The Raytheon-owned engine maker has said the claims are without merit. The company earlier this month invited investor interest in the company through a court-appointed administrator. The last date to submit an expression of interest (EoI) is Aug. 9. «The airline has received 40 queries on EOIs