Go First takes two ECLGS loans totaling Rs 203.5 crore amid cash crunch

Go First's loss more than doubled to Rs 1,807.91 crore in FY22 due to US-based Pratt and Whitney's delay in supplying engines and multiple waves of Covid-19 that affected air travel

Go First airline has taken two loans worth Rs 203.5 crore during the last five months to deal with its cash crunch, Business Standard has learnt.

The two loans were granted by two government-run Banks -- the Central Bank of India (CBoI) and the Bank of Baroda (BoB) -- to the airline under the government's Emergency Credit Line Guarantee Scheme (ECLGS). The Centre had in 2020 started the ECLGS to provide government-guaranteed loans to businesses affected by the Covid pandemic.

Go First's net loss more than doubled to Rs 1,807.91 crore in FY22 due to US-based Pratt and Whitney’s (PW)