Go First owner has no plans to exit airline: CEO | Reuters News Agency

Go First owner has no plans to exit airline: CEO

The day after India’s Go Airlines filed for bankruptcy, Reuters exclusively reported that its owner does not intend to exit the cash-strapped airline. In its bankruptcy filing, India’s third-largest airline, which recently re-branded as Go First, claimed its failure followed a refusal by Pratt & Whitney to abide by an arbitration order to release spare leased engines that would have allowed it to return to full operations. 

Market Impact

Go First’s bankruptcy could be a boon for its rivals. Lenders to Go First, including Central Bank of India <CBI.NS>, Bank of Baroda <BOB.NS> and IDBI Bank <IDBI.NS> fell on Wednesday. 

Article Tags
Type: Reuters Best
Sectors: Aerospace & Defence
Regions: Asia
Countries: India
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
People wait to claim refunds after their flights were cancelled, from the Go First airline ticketing counter at the Chhatrapati Shivaji International Airport in Mumbai, India, May 3, 2023. REUTERS/Francis Mascarenhas
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