Go First seeks up to $122 million in additional funds: Report
Jone
21 June 2023, 5:41pm
Indian airline Go First has sought additional funds for its operations at a lenders meeting on Wednesday, banking sources told Reuters.
Credit: HT
Indian airline Go First has sought additional funds for its operations at a lenders meeting on Wednesday, banking sources told Reuters.
The airline is seeking between 4 billion and 6 billion Indian rupees ($122 million) in additional funds, the sources said, with lenders expected to evaluate proposals in the next 48 hours.
The US Federal Trade Commission sued Amazon.com Inc. Wednesday, alleging the e-commerce giant duped consumers into signing up for its Prime membership service and deliberately made it hard to cancel.
The consumer protection agency filed a lawsuit in Washington state federal court claiming that Amazon’s website manipulates users into enrolling in Prime, where subscribers pay $139 a year for privileges like speedy free delivery, video streaming and access to 100 million songs. The cancellation process for Prime is also difficult to find and requires multiple steps, the FTC alleged. The agency said Amazon referred to the process internally as the Iliad, after Homer’s lengthy epic poem.
Also Read | Amazon to surpass Walmart as beauty market leader, says Morgan Stanley
In its complaint, the FTC said consumers must click through five pages on the desktop web store or six on the mobile app to cancel Prime. It also claimed Amazon failed to turn over information sought by investigators, taking more than 18-months to produce materials the FTC sought.
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