Go First’s bankruptcy and SpiceJet's troubles highlight challenges faced by airlines in maintaining sustainable operations in India's highly competitive and cost-sensitive market.
Go First approached the Delaware court to enforce an arbitration order in Singapore against P&W, which it blames for its financial troubles by arguing the US firm failed to supply engines on time.
SMBC, along with other international firms, raised the alarm after NCLT gave Go First bankruptcy protection to allow it to revive itself, but barred lessors from repossessing planes.
If the tribunal admits Go First's plea, it will lead to the appointment of a new resolution professional who will take over management to revive the airline run by Wadia Group.
Go First has been given 15 days to reply to the notice, following which a decision on the continuation of their Air Operators Certificate (AOC) would be taken.
Wadia Group-owned Go First said in petition to NCLT that it owes Rs 11,463 cr to creditors & that its assets 'are not sufficient to meet its liabilities'.
Since 1979, Iran has used the Palestinian issue as a façade for its regional agenda to oppose American diplomacy, the Western world, and the existence of Israel.
In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.
The decorated Naga officer from Manipur also served as envoy to Myanmar & Nagaland chief secy. Defence Minister Rajnath Singh inaugurated a museum dedicated to the Tawang hero Thursday.
Congress is silently acknowledging it over-read verdict of last general election. You can see it in easy concession to SP. It will likely be more reasonable in Maharashtra & Jharkhand.
COMMENTS