Lenders to India's Go First weigh liquidation after court order on planes, sources say

Lenders to India's Go First will meet this week to discuss options for the bankrupt airline, including liquidation, after a court order allowed lessors to take back their planes, two bankers with Go First's creditors said on Tuesday. "There is no value left in the airline after the court order and chances of revival seem very grim," one of the bankers said. Go First's resolution professional did not immediately respond to a Reuters' email seeking comment. The airline owes a total of 65.21b rupees ($780.88m) to its creditors, which include Central Bank of India, Bank of Baroda, IDBI Bank and Deutsche Bank. The Committee of Creditors (CoC) met on Monday and another meeting is scheduled for Thursday, both sources said. The two bankers did not wish to be identified because they are not authorised to speak with the media. Go First has received two bids under the formal bankruptcy process - one from a consortium which includes budget carrier SpiceJet's managing director Ajay Singh and Busy Bee Airways, and the second from Sharjah-based Sky One, Reuters previously reported. Sky One's Chairman Jaideep Mirchandani said that despite the deregistration of leased planes, the company was prepared to bring in their own assets and resources to revive the airline, if its bid was successful.<br/>