DGCA says it examined Go First's response & is committed to minimising passenger inconvenience in view of abrupt decision to suspend scheduled operations without prior intimation.
As aviation stocks soar after Go First's 'surprise' decision to file for bankruptcy, experts say move expected to significantly benefit other players such as Indigo, SpiceJet & Air India.
The company's ultra-low-cost model & near-total reliance on one aircraft type helped it make money, until engine issues worsened & it reported heavy losses in the last 3 years.
Twitter handle of airline shows a flood of queries related to status of flights from 6 May onwards as well as refund process & timelines. Employees worried about their future.
Low-cost carrier Go First on Tuesday alleged it had to ground 25 aircraft or about 50% of its Airbus A320neo aircraft fleet — as of 1 May — due to issues with Pratt & Whitney engines.
Cash-strapped airline Go First filed for bankruptcy on Tuesday, blaming ‘faulty’ Pratt & Whitney engines for grounding of about half its fleet and taking lenders by surprise.
The airline's total liabilities to all creditors stand at 114.63 billion rupees, the filing shows. This includes dues to banks, financial institutions, vendors and aircraft lessors.
Go First says its promoters have infused Rs 6,500 crore in airline since its inception & it has sought compensation of Rs 8,000 crore from engine maker Pratt & Whitney.
The airline was seeking to raise funds and conglomerate Wadia Group was reported to be in talks to either sell a majority stake or completely exit its shareholding.
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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