BENGALURU (Reuters) – Indian airline Go First Airways said on Tuesday it was filing for insolvency resolution and can no longer continue to meet financial obligations, blaming U.S. company Pratt & Whitney’s “faulty engines” for grounding of 50% of its fleet.
Pratt & Whitney did not immediately respond to a request for comment.
Following are some reactions to this development:
MARK MARTIN, CEO, AVIATION CONSULTANCY MARTIN CONSULTING LLC
“I am a little stunned to hear of them file for bankruptcy and proceed for IBC. I still feel that this might not be the end of Go First. This must be a vehicle and a means for somebody new to take over.”
JINESH JOSHI, RESEARCH ANALYST, PRABHUDAS LILLADHER PVT LTD
“Go First commanded a market share of 8.9% in CY22 and sudden disruption in operations is likely to benefit other players and raise airfares due to supply constraints.”
(Reporting by Dhanya Ann Thoppil; Compiled by Shivam Patel)
Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibilty for its content.