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'.
This phase belongs to the ‘non-aligned’ parties. They could play a critical role in the eventuality of a hung parliament, which looks much more likely than it did one month ago.
About 300 employees had called in sick Wednesday, allegedly in protest against mismanagement of airlines. Remaining staff given ultimatum to rejoin work by end of Thursday.
Chiman Singh, injured in 1971 India-Pakistan war, was discharged as non-pensioner in 1972. In his petition, he states denial of pension is contrary to settled law.
Even in the weeks leading up to Chamkila’s assassination there were massacres every other day. To airbrush all of this is sheer intellectual cowardice if not a crime.
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