India has its own unique geography and dynamics. So, flying is often the option many take despite it being a pricier option. Affluent Indians tend to be far less cost-conscious than their European counterparts when it comes to travel. This whole dynamic changes quite a bit when it comes to last-minute fares when prices can be 3 or even 4 times the usual fare.
"Among the creditors, a large public sector bank which is a key creditor wants more time since the approval to extend the process needs to be ratified by its board. So voting lines are still open for everyone, though some of the creditors have already voted," said a person aware of the process.
Historical data show that an airline gains market share or improves margins amid weak competition. This was true for InterGlobe as well. Apart from expanded market share, its operating margin before depreciation and amortisation (Ebitda margin) improved to 31.2% in the June 2023 quarter from 20.9% in the March 2023 quarter despite buoyant crude oil prices at the time. Factors such as fund crunch, delays in delivery of planes and relatively weak balance sheets of rivals contributed to InterGlobe s performance.
Go First s lessors had earlier complained to the Delhi High Court that the airline s resolution professional was not providing necessary maintenance and technical records related to its aircraft