According to an ET report, the cash-strapped airline will lay off around 15% of its workforce. However, SpiceJet is yet to confirm the number of jobs being cut.
The flight crew is said to have tried their best to open the door, but failed. They reportedly passed him a note before landing to 'sit on the commode lid and secure' himself.
SpiceJet said it would make the offer after conducting due diligence on Go First’s resolution professional, said the official involved in conducting airline’s insolvency process.
A third of the amount is part of a monthly settlement plan SpiceJet had previously agreed with Credit Suisse, and the rest are unpaid dues to the bank.
The aviation regulator's decision came at a time when the airline was in the process of settling dues with various lessors who were seeking repossession of its aircraft.
The airline, which currently operates five Bombardier Q400 aircraft from NAC in its fleet, said the agreement settles all past liabilities for the Q400s.
The partnership with FTAI 'will reduce maintenance expense and minimize aircraft downtime, enhancing the airline's overall performance,' said SpiceJet in a statement.
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.
In India, only 17% of public sector banks and 25% of private sector banks claimed to have an internal strategy for integrating climate risks into their risk management framework.
Economists say there are weaknesses in India’s GDP data. But statisticians claim the accusations are based on flawed understanding, saying while GDP has problems, the economists are looking in the wrong places.
Both the governments expressed their commitment to strengthening their maritime cooperation to strengthen the maritime safety and security framework in the region.
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