GoAir (G8, Mumbai Int’l) has received an INR8 billion rupee (USD110 million) credit line from banks, designed to help it cope with the ongoing aviation crisis, finance industry sources have told the Business Standard newspaper.
According to the sources, the airline applied for debt restructuring under the Reserve Bank of India’s “one-time loan restructuring scheme” for companies under Covid-related stress. The scheme, announced in August 2020, allows banks to restructure borrowers’ loans that had been regular in their repayments and no…
Source: ch aviation
Read more: India’s GoAir takes 0mn bank credit line – report