Cash-strapped airline, Go First has requested additional funds to continue its operations at a lenders’ meeting on Wednesday, a Reuters report said. 

Go First, formerly known as GoAir, is seeking between Rs 400-600 crore or around $122 million in additional funds. The report said lenders are expected to evaluate proposals within 48 hours. 

Go First has been given a deadline of June 23 to present its revival plan to the Directorate General of Civil Aviation (DGCA). The plan is expected to outline a strategic roadmap for the airline’s recovery, considering various crucial aspects of its operations. 

Under this plan, the airline will resume operations in July and operate 152 daily flights with 26 aircraft — 22 for active operations and 4 in reserve. However, the resumption plan depends on many factors. As of now, Go First has cancelled all flights till June 25.

Earlier, the National Company Law Appellate Tribunal (NCLAT) had directed the new Interim Resolution Profession to respond to concerns raised by the aircraft lessors. According to the bankruptcy filing, Go First owes Rs 65.21 billion to the Central Bank of India, Bank of Baroda, IDBI Bank, and Deutsche Bank.