BENGALURU - Cash-strapped Indian airline Go First filed for bankruptcy on Tuesday (May 2), blaming 'faulty' Pratt & Whitney engines for the grounding of about half its fleet. The move marks the first major airline collapse in India since Jet Airways filed for bankruptcy in 2019, and underscores the fierce competition in a sector dominated by IndiGo and the recent merger...
A Go First airline, formerly known as GoAir, Airbus A320-271N passenger aircraft prepares to take off from Chhatrapati Shivaji International Airport in Mumbai, India, on May 2, 2023.BENGALURU - Cash-strapped Indian airline Go First filed for bankruptcy on Tuesday , blaming "faulty" Pratt & Whitney engines for the grounding of about half its fleet.
In a statement, Go First said its filing followed a refusal by Pratt & Whitney, the exclusive engine supplier for the airline's Airbus A320neo aircraft fleet, to comply with an arbitration order to release spare leased engines that would have allowed the airline to return to full operations. "P&W is complying with the March 2023 arbitration ruling related to Go First. As this is now a matter of litigation, we will not comment further," it added.Pratt & Whitney has also been quoted in Indian media as saying it was affected by industry-wide supply chain pressures and that it expects those to ease later this year, which would support increased output of new and overhauled engines.
"The government of India has been assisting the airline in every possible manner," India's Civil Aviation Minister Jyotiraditya Scindia said in a statement. "The issue has also been taken up with the stakeholders involved." The lenders met Go First's management a few weeks ago, but no intimation was given, one of the bankers said. Lenders will meet soon to assess the situation and decide on a future course of action, they said.
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India's Go First airline files for bankruptcy, blames Pratt & Whitney enginesBENGALURU: Cash-strapped Indian airline Go First filed for bankruptcy on Tuesday (May 2), blaming 'faulty' Pratt & Whitney engines for the grounding of about half its fleet. The move marks the first major airline collapse in India since Jet Airways filed for bankruptcy in 2019, and underscores the fier
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