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'.
The end of the Cold War in the 1990s brought an end to the ideological spheres of influence that had defined the post-World War II period, envisioned as a fight between the capitalist West and the communist East.
Former RBI governor says India is now expected to remain the fastest-growing major economy; self-reliance gives India economic resilience and foreign policy autonomy.
Both the Russian and Ukrainian militaries are leaning on drones, but they’re also firing cruise and ballistic missiles, some of them relatively new and experimental.
UK, EFTA already in the bag and EU on the way, almost every member of RCEP except China signed up, and even restrictions on China being lifted, India has changed its mind on trade.
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