Go First, previously known as Go Air shut its operations last year has invaluable airport slots that will be up for a grab, and carriers like Air India (AI), IndiGo (6E), and Akasa Air (QP) may bid to get them.
Go First Shutdown
Lenders of the financially distressed Indian LCC Go First, established by the Wadia family, are reportedly considering a proposal to liquidate the airline.
In a bid to assess the potential diversion of funds, banks are set to conduct a forensic audit of the cash-strapped Go First Airline (G8), which recently filed for bankruptcy protection.
Tomorrow, on May 12, Friday, the National Company Law Appellate Tribunal (NCLAT) is scheduled to hear the plea filed by SMBC Aviation Capital, the aircraft lessor of Go First (G8).
Former Jet Airways (9W) CEO Sanjiv Kapoor has shared his thoughts on the temporary shutdown of Go First (G8) Airlines. He mentioned that the closure of G8 is not good for Indian passengers.
Pratt and Whitney (PW), the company has responded to Go First’s allegation that its voluntary bankruptcy filing was due to PW’s inability to supply engines. Half of Go First’s Airbus A320neo fleet was grounded for months.
According to two bankers who are familiar with the matter, lenders of Go Airlines (India) Ltd are expected to convene on Wednesday to deliberate on the next steps to be taken following the airline’s filing for bankruptcy on Tuesday.