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 massive success of the IPL is a watershed moment in Indian sports. It proved that sports could be an incredibly profitable commercial venture. The glamour, the glitz, and the spectacle of it didn’t go unnoticed.
New CPI series will take 2024 as base year, will provide more accurate measure of inflation, spending on digital services. Expected to enhance representation and reliability, says Saurabh Garg.
The agreement, signed after meeting between Rajnath and US Secretary of War Pete Hegseth on sidelines of ADMM-Plus in Kuala Lumpur, aims to deepen bilateral ties in the critical sector.
This world is being restructured and redrawn by one man, and what’s his power? It’s not his formidable military. It’s trade. With China, it turned on him.
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