The Go First airline announced to ground all its aircrafts on May 3 initially, a day after the Wadia owned air carrier filed for voluntary insolvency proceedings with the NCLT.
NEW DELHI (Reuters) - India's Go First has been granted bankruptcy protection that will give it time to get back on its feet, but the move has put the country's fourth-largest airline at odds with lessors who want to repossess planes for missed rental payments. | 04:08am
If the Indian tribunal admits Go First's plea, it will lead to appointment of a new resolution professional who will take over management to revive the airline run by India's Wadia Group. A decision is expected at 10:30 a.m. (0500 GMT), with Go First widely expected to succeed.
The fate of India s fourth-largest carrier Go Airlines Ltd and its 7,000 employees is set to be decided on Wednesday, in a bankruptcy plea ruling that will also have major implications for. | May 10, 2023
NEW DELHI An Indian tribunal will decide on Wednesday on Go Airlines (India) Ltd’s bankruptcy request, a notice on the tribunal’s website showed, as leasing…