The resolution professional (RP) managing the bankruptcy proceedings of Go First Airlines has extended the deadline for lenders to cast their votes regarding the consideration of new bids from SpiceJet and two other investors. This extension comes in response to certain creditors seeking more time to evaluate the recent expressions of interest, according to sources familiar with the process. Initially set to conclude last Saturday, the voting period has been prolonged until the end of this week. RP Shailendra Ajmera initiated the voting process subsequent to receiving unsolicited interest from three entities last month, all vying to conduct due diligence on the grounded airline. Among these entities, Sharjah-based aviation company Sky One, Africa-focused Safrik Investments, and domestic budget airline SpiceJet expressed interest in acquiring Go First following the lapse of the proposal deadline. The airline's outstanding debts exceed ?6,200 crore. Leading creditors include Central Bank of India, Bank of Baroda, and IDBI, with admitted claims of ?1,934 crore, ?1,744 crore, and ?75 crore, respectively. Collectively, these lenders are owed ?3,753 crore by the airline, and any deadline extension necessitates their approval. The RP retains the authority to extend the corporate insolvency resolution process (CIRP) for an additional 60 days, still within the Insolvency and Bankruptcy Code's outer limit of 330 days, which concludes on February 4. Naveen Jindal's expression of interest considered a potential bidder for the airline, did not materialize into a final bid in the recent round. Lenders remain cautious due to the limited information available about the foreign entities and the financial stability of SpiceJet, which is grappling with its own set of challenges. In parallel, they anticipate a more favorable recovery outcome from Go First's ongoing arbitration proceedings in Singapore against US engine manufacturer Pratt & Whitney (P&W), as opposed to a direct sale. The arbitration, initiated by Go First's previous management, seeks over $1 billion from P&W, attributing faulty engines and delayed replacements for grounding half of the airline's fleet, ultimately leading to bankruptcy.