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SpiceJet to submit offer to Go First after due diligence to create an ‘airline in collaboration’

SpiceJet stated on Tuesday that it’s going to submit a proposal with the decision skilled of Go First after due diligence. File Picture.

Finances provider SpiceJet stated on Tuesday that it’s going to submit a proposal with the decision skilled of Go First after due diligence to “create an airline in collaboration” with the bankrupt provider.

The information, which pushed up SpiceJet shares by greater than 7%, got here after Go First’s lenders started considering the airline’s liquidation after they didn’t get any bids for it throughout the late November deadline.

SpiceJet didn’t present any additional particulars on its supply on Tuesday.

Final week, SpiceJet stated it could increase Rs 22.50 billion (practically $271 million) by promoting shares and warrants to help progress plans.

Go First didn’t instantly reply to the media report.

The provider’s chapter submitting lists Central Financial institution of India (CBI.NS), Financial institution of Baroda (BOB.NS), IDBI Financial institution (IDBI.NS) and Deutsche Financial institution (DBKGn.DE) amongst its collectors to whom it owes a complete of 65.21 billion rupees ($784.60 million).

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