Go First counters at Delhi airport empty amid bankruptcy

Go First airline counters at the Delhi airport wore a deserted look as the beleaguered airline filed for bankruptcy at the National Company Law Tribunal (NCLT) on May 2. Besides, go first In view of the mounting losses, flight operations have also been canceled for the next three days (May 3, 4 and 5).

Wadia Group Backed go first has blamed Pratt & Whitney Engines for grounding half its fleet of Airbus planes at a time when travel demand is rising.

A go first The airline is facing financial crunch due to non-supply of engines by the US-based jet engine maker, the official said. Pratt and Whitney (P&W) which has forced the grounding of more than 50 aircraft. debt-ridden airline said it also said Pratt refused to comply with an award issued by an emergency arbitrator to provide the carrier with at least 10 usable engines a month by April 27 and an additional 10 a month until December 2023.

Pratt & Whitney responded by stating that it was complying with the arbitration award.

“Pratt & Whitney is committed to the success of our airline customers, and we continue to prioritize delivery schedules for all customers,” the company said.

go first It is majority owned by billionaire Nusli Wadia’s Wadia Group, which also controls cookie maker Britannia Industries Ltd. and textile maker Bombay Dyeing & Manufacturing Company. According to the website, it operated a fleet of 59 aircraft including 54 A320nos and flew to 34 cities. , including seven international sites.

History of turbulence in India’s aviation market:

India has been a notoriously difficult market airlinesWith its cutthroat fare war hitting high-profile airlines such as Jet Airways India Ltd and beer tycoon Vijay Mallya’s Kingfisher Airlines Ltd, low-cost carrier IndiGo, controlled by InterGlobe Aviation Ltd, now controls more than half the local Enticing travelers with up market, cheap, no-frills and on-time flights.

Go First Notice of DGCA:

Directorate General of Civil Aviation (DGCA) today issued a show cause notice to the low cost carrier for not giving prior intimation to the DGCA about the cancellation of flights on May 3 and May 4. DGCA has sought response from GoFirst Airlines within the next 24 hours from the issue of the show cause notice.

History of turbulence in India’s aviation market:

India has been a notoriously difficult market for airlines, with its cutthroat fare war that has killed off high-profile airlines Jet Airways India Limited, and low-cost carrier Indigo, controlled by beer tycoon Vijay Mallya’s Kingfisher Airlines Ltd. Interglobe Aviation Ltd., now controls more than half the local market, luring travelers with cheap, no-frills and on-time flights.

Go First Notice of DGCA:

The Directorate General of Civil Aviation (DGCA) today issued show cause notices to low cost carriers for not informing DGCA prior to cancellation of flights on May 3 and May 4. DGCA GoFirst Airlines has been asked to respond within the next 24 hours from the date of issue of the show cause notice.

catch all corporate news And updates on Live Mint. download mint news app to receive daily market update & Live business News,

More
Less