Morning Buzz: GoAir looks to restart operations, Byju's to take Aakash public, and more

GoAir has sought the DGCA’s nod to restart flights with 22 aircraft for the next five months Image: Punit Paranjpe / AFP

GoAir looks to restart operations with 22 aircraft

GoAir has sought the DGCA’s nod to restart flights with 22 aircraft for the next five months. The airline requires Rs200 crore to start flying again and believes it can access Rs200 crore under the government’s emergency credit line guarantee scheme. Part of this money will also be used to pay staff salaries for April and May and make payments to vendors.

(Economic Times, Mint, Hindu BusinessLine)

Byju’s plans to take Aakash public next year

Faced with a loan repayment deadline, Byju’s announced plans to take test preparation company Aakash public by the middle of next year. The company is due to pay a $40-million instalment of a $1.2-billion loan. It is the largest unrated loan ever taken by a startup, and if it fails to meet the deadline, Byju’s would officially be termed a defaulter.

(Mint, Hindu BusinessLine)

Car dealer inventories pile up

Dealer inventory levels have risen to 40 to 45 days, even as car sales rose 4 percent year-on-year in May. As a result, dealers have started talks with car manufacturers to rationalise inventory levels. High interest rates have meant that any inventory beyond 21 days pinches the dealer. Inventory levels have been creeping up since January when they were at 33 to 35 days. By March they had moved up to 37 to 39 days.