Leasing companies Sabarmati, Wilmington, and Falgu required the deregistration of three aircraft as SpiceJet sought to lease extra aircraft to accommodate passengers who had been stranded by Go First‘s cancellations.
Flight tickets remain costly
Go First will take some time to come back when you log in to MakeMyTrip or any other travel website to book tickets because aircraft lessors are fighting the airline’s insolvency procedures, and the carrier is waiting for Pratt & Whitney engines.
But a month before the Go First situation, IndiGo, India’s top airline, had highlighted an aircraft shortage as a barrier to its expansion. Now, IndiGo wants a deal with Pratt and Whitney to provide engines to help its grounded planes regain control of the skies.
IndiGo flight from New Delhi to Leh
Prices for an IndiGo flight from New Delhi to Leh have risen dramatically to approximately Rs 40,000, reflecting the impact of Go First’s disaster landing and turbulence at IndiGo.
Pratt and Whitney is the usual culprit
Due to 25 of its aircraft being grounded, IndiGo is unable to take advantage of Go First’s absence, while SpiceJet’s efforts to fill the hole have been thwarted by lessors seeking to have their aircraft deregistered for outstanding debts.
The deregistration of three aircraft was required by leasing companies Sabarmati, Wilmington, and Falgu as SpiceJet sought to lease extra aircraft to accommodate passengers who had been left stranded by Go First’s cancellations.
Recently, another SpiceJet lessor, Aircastle, also informed a court that it is dissatisfied with the settlement being provided by the heavily indebted airline.
Is SpiceJet able to escape again?
Months after the DGCA deregistered two of SpiceJet’s aircraft, the airline has been slammed with requests from lessors, which may be what led to the suspension of its Ahmedabad-Goa flights last week.
Tickets for SpiceJet flights from Delhi to Leh are currently costing more than Rs 30,000 since it’s not certain if the airline has enough aircraft to handle the escalating demand.
Air India facing problems
Air India is still experiencing a pilot shortage despite having large plans for more aircraft and the merging of Vistara and Air Asia.
Prices for Air India and Vistara are also increasing like the temperature in summer, even though the company has increased hiring and seen a spike in applications from Go First personnel looking for other jobs.
In terms of Go First’s resolve, the company’s resolution specialist’s exhortation to get to work soon doesn’t appear to have had the desired effect as the airline’s staff is requesting help from the government to avoid giving notice when they quit.
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