Go First will need to raise funds, resolution professional tells staff

Go Airlines (India) will need to raise funds to revive the bankrupt company amid plans to keep it as a going concern, the recently appointed resolution professional informed staff on Thursday, a source with direct knowledge of the matter told Reuters.

The low-cost carrier, recently rebranded as Go First, was granted bankruptcy protection by a tribunal in New Delhi after it plunged into financial crisis due to what it called "faulty" Pratt & Whitney engines that grounded about half its 54 Airbus A320neos.

(More to come)