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Go First granted airline bankruptcy protection
Troubled airline Go First was granted bankruptcy protection, dashing the hopes of foreign aircraft lessors.
The lessors had sought to repossess aircraft.
The National Company Law Tribunal granted a moratorium on Go First’s assets and leases while its financial position is assessed.
Go First has blamed its financial plight on problems with Pratt & Whitney engines on its all Airbus fleet.
The engine maker denies this and laid the blame on the airline’s ‘financial mismanagement.’
“Go First is seeking to jump the line for engines. Airline customers should not be made to suffer due to the financial mismanagement of one airline,” P&W reportedly said.
“P&W will vigorously defend itself against Go First’s claims.”
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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