India's Go First airline gains bankruptcy protection, lessors' woes deepen - Reuters News Agency

India’s Go First airline gains bankruptcy protection, lessors’ woes deepen

Reuters was first to report the news that a tribunal granted bankruptcy protection to India’s fourth largest airline Go First, bolstering chances of its revival but dealing a blow to lessors. The decision was keenly awaited by global leasing companies in Europe and elsewhere as the ruling now bars them from repossessing dozens of their Airbus A320neo planes from Go First due to a legal moratorium, setting the stage for prolonged court battles.

Market Impact

Go First’s woes will lead to higher lease premiums for Indian airlines. That could prove to be a pain point for the sector at a time when Indian Prime Minister Narendra Modi is touting the country’s emergence as an aviation powerhouse, with bigger rivals IndiGo (INGL.NS) and Tata Group’s Air India expanding aggressively. 

Article Tags
Type: Reuters Best
Sectors: Aerospace & Defence
Regions: AsiaEurope
Countries: India
Win Types: Speed
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Major Global Story
eikon_5.11.23_go first
Sign up for email updates
Sign up for email updates