[ad_1] MUMBAI: Go Airlines India Ltd this week became the latest victim in the battle of the skies over India. It isn’t the first high-profile carrier to fail and it won’t be the last. Buoyed by an emerging middle class hankering to fly, Indian airlines ordered billions of dollars worth of planes in the past … Read more
[ad_1] Go First has cancelled all flights till May 12. New Delhi: As Go First awaits the NCLT ruling on its voluntary insolvency resolution plea, the tribunal is set to hear on Monday two petitions seeking insolvency proceedings against the crisis-hit airline. With liabilities of Rs 11,463 crore and a financial crunch, the Wadia group-owned … Read more
[ad_1] MUMBAI: Lessors are seeking to take back possession of at least 20 Airbus SE jets operated by Go Airlines India Ltd, further complicating the insolvent carrier’s attempts to start flying again, even as a local bankruptcy court contemplates whether the company should get any respite.Lessors including Dublin’s GY Aviation Lease, SMBC Aviation Capital and … 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] As Go First Airlines grounded flights all of its flights starting today till May 5 amid bankruptcy, passengers who booked their tickets with the airlines are left in the middle of nowhere. The low-cost airline promoted by the Wadia Group on Tuesday announced that its flight operations will remain cancelled from May 3 to … 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