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Bombay Burmah makes Rs 1,866-crore provisions for Go First exposure

The company owned a 33% stake in Go Airlines (India), which operates Go First, while the rest is owned by unlisted holding companies of Wadia Group

Photo: Bloomberg
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Photo: Bloomberg

Dev Chatterjee Mumbai

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The holding company of the Wadia group, Bombay Burmah Trading Corporation (BBTCL), has fully provided for its exposure in the bankrupt GoAir Airlines, with a sum of Rs 1,865.66 crore for FY23. This provision in respect of its investments made in Go Airlines (GoAir) and other related financial obligations (excluding share of loss in Go Air during the year).

The company owns 33 per cent stake in GoAir Airlines Ltd, which operates "Go First" airline, while the rest is held by unlisted holding companies of the Wadia group.

The company also had a debt exposure of about Rs 290 crore

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First Published: May 28 2023 | 10:04 PM IST

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