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.
Disenfranchisement by institutional fiat is profoundly undemocratic. The effect of the ECI's new documentary process in Bihar will tilt the scales in favour of the BJP.
Mini deal will likely see no cut in 10% baseline tariff on Indian exports announced by Trump on 2 April, it is learnt, but additional 26% tariffs are set to be reduced.
India-Russia JV is also racing to deliver 7,000 more AK-203 assault rifles by 15 Aug. These are currently being made with 50% indigenisation and this will surge to 100% by 31 December.
Public, loud, upfront, filled with impropriety and high praise sometimes laced with insults. This is what we call Trumplomacy. But the larger objective is the same: American supremacy.
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