<p>Mumbai: Lenders to India's Go First will meet later this week to discuss options for the bankrupt airline, including liquidation, after a court order allowed lessors of the aircraft to take back their planes, two bankers with Go First's creditors said on Tuesday.</p>.<p>"There is no value left in the airline after the court order and chances of revival seem very grim," one of the bankers said.</p>.<p>Go First's resolution professional did not immediately respond to a <em>Reuters</em>' email seeking comment.</p>.<p>The airline owes a total of 65.21 billion rupees ($780.88 million) to its creditors, which include Central Bank of India , Bank of Baroda, IDBI Bank and Deutsche Bank.</p>.<p>The Committee of Creditors (CoC) met on Monday and another meeting is scheduled for Thursday, both sources said.</p>.<p>The two bankers did not wish to be identified because they are not authorised to speak with the media.</p>.<p>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.</p>.<p>Sky One's Chairman Jaideep Mirchandani said on Friday the de-registration of aircraft does not alter its plans for the Indian aviation industry.</p>.<p>"If our bid goes through, Sky One can bring in its own assets to run and revive the airline as we are experienced lessors," said Mirchandani.</p>.Go First's bidder ups bid following banks' nudge, say sources.<p>Ajay Singh and Busy Bee's majority shareholder Nishant Pitti did not respond to emails seeking comment.</p>.<p>Lenders may still choose to reject the bids on the table as they are not happy with the sums offered currently by both the applicants, the second banker said.</p>.<p>The bids include the value of a piece of land offered as collateral by the airline's promoters, the banker said.</p>.<p><em>Reuters</em> had earlier reported that lenders had sought higher bids.</p>.<p>While liquidation seems to be the most viable option under the present circumstances, it will be put to a vote once the committee formally rejects the two offers or if the applicants back out, both the bankers said.</p>.<p>($1 = 83.5080 Indian rupees) </p>
<p>Mumbai: Lenders to India's Go First will meet later this week to discuss options for the bankrupt airline, including liquidation, after a court order allowed lessors of the aircraft to take back their planes, two bankers with Go First's creditors said on Tuesday.</p>.<p>"There is no value left in the airline after the court order and chances of revival seem very grim," one of the bankers said.</p>.<p>Go First's resolution professional did not immediately respond to a <em>Reuters</em>' email seeking comment.</p>.<p>The airline owes a total of 65.21 billion rupees ($780.88 million) to its creditors, which include Central Bank of India , Bank of Baroda, IDBI Bank and Deutsche Bank.</p>.<p>The Committee of Creditors (CoC) met on Monday and another meeting is scheduled for Thursday, both sources said.</p>.<p>The two bankers did not wish to be identified because they are not authorised to speak with the media.</p>.<p>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.</p>.<p>Sky One's Chairman Jaideep Mirchandani said on Friday the de-registration of aircraft does not alter its plans for the Indian aviation industry.</p>.<p>"If our bid goes through, Sky One can bring in its own assets to run and revive the airline as we are experienced lessors," said Mirchandani.</p>.Go First's bidder ups bid following banks' nudge, say sources.<p>Ajay Singh and Busy Bee's majority shareholder Nishant Pitti did not respond to emails seeking comment.</p>.<p>Lenders may still choose to reject the bids on the table as they are not happy with the sums offered currently by both the applicants, the second banker said.</p>.<p>The bids include the value of a piece of land offered as collateral by the airline's promoters, the banker said.</p>.<p><em>Reuters</em> had earlier reported that lenders had sought higher bids.</p>.<p>While liquidation seems to be the most viable option under the present circumstances, it will be put to a vote once the committee formally rejects the two offers or if the applicants back out, both the bankers said.</p>.<p>($1 = 83.5080 Indian rupees) </p>