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Amid financial troubles Go First Airline suspends flights as US firm Pratt & Whitney stops spare engines supply | Indiablooms

Mumbai: Cash-strapped carrier Go First airline has decided to stop flights on Wednesday and Thursday. At present, 50 percent of the carrier’s fleet is working in the absence of a supply of spare engines from US firm Pratt & Whitney (P&W), the carrier said in a statement. ....

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Indian airline Go First files for bankruptcy, temporarily suspends operations for two days

India’s budget carrier Go First on Tuesday filed for bankruptcy before the National Company Law Tribunal (NCLT) and temporarily suspended flight operations on May 3 and 4 due to a "severe fund crunch".

Chief Executive Kaushik Khona said that flight operations will resume once the NCLT admits the application, PTI news agency reported. More than 5,000 people are employed with Go First.

“It is an unfortunate decision (filing for voluntary insolvency resolution proceedings) but it had to be done to protect the interests of the company,” he told PTI. ....

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Go First Bankruptcy: Reason For Insolvency, History And Future Of Low Cost Airline - Explained

Flying for more than 17 years, Go First, earlier known as Go Air, has remained relatively ambitious in terms of expansion of fleet and network compared to its more aggressive competitors. ....

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DGCA Says Go First Stopped Operations Without Informing, Issues Notice To Airliner

Go First said it has stopped all flights due to a severe funds shortage and blamed US aviation firm Pratt & Whitney (P&W) for ever-increasing number of failing engines. ....

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MC Exclusive: GoFirst was burning Rs 200 crore cash per month; it was unsustainable: CEO

The CEO said that GoFirst needs at least 20 aircraft to return to service and break even on daily operations. ....

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