[ad_1] Even though the Wadia group has approached the National Company Law Tribunal (NCLT) voluntarily to protect their leased planes from being repossessed, there exists the risk of other interested groups bidding for Go Airlines (India) Ltd, said Supreme Court advocate. “The risk of some other interested group making a bid for Go Airlines that … Read more
[ad_1] NEW DELHI: US aerospace major Pratt & Whitney (P&W) on Wednesday hit back at Go First with sources in the company saying that the airline “has a lengthy history of missing its financial obligations to Pratt”. P&W had been squarely blamed by Go First for running out of funds as it filed a voluntary … Read more
[ad_1] One scheduled airline on an average has gone out of business every year since private airlines took to the skies nearly three decades ago, with Wadia group-owned Go First being the latest carrier battling financial turbulence for survival. The first private airline to go belly up was East West Travels & Trade Link Ltd, … Read more
[ad_1] The company has defaulted on payments to operational creditors. Mumbai: Indian airline Go First, which filed for bankruptcy on Tuesday, owes financial creditors Rs 65.21 billion ($798 million), its bankruptcy filing showed. As of April 30, Go First Air had not defaulted on any of these dues, it said in the filing, which was … Read more
[ad_1] NEW DELHI/MUMBAI: Go Airlines, founded by billionaire Nusli Wadia, filed for bankruptcy on Tuesday with the low-cost carrier blaming US engine-maker Pratt & Whitney for grounding half of its fleet. Rechristened Go First last May, the airline that started flying in 2005 becomes the first Wadia Group entity to declare bankruptcy in its 287-year … Read more
[ad_1] The Directorate General of Civil Aviation (DGCA) has issued a show cause notice to Go First after the airline cancelled fresh bookings from May 3-5. In a statement, DGCA said that no prior intimation was given to the DGCA for such cancellations and Go First (formerly Go Air) has failed to adhere to the … Read more
[ad_1] Go First, formerly known as GoAir, a Wadia Group-owned airline, today announced to file an application for voluntary insolvency resolution proceedings before the National Company Law Tribunal (NCLT), Delhi. The airline declared to cancel all filed till May 5, as it goes bankrupt amid severe cash crunch. Nearly two years ago, Go First filed … Read more