Tata group, IndiGo hold talks to snap up planes, airport slots of Go First

India’s biggest conglomerate and largest airline are in talks to take Airbus SE planes from Go First after the carrier filed for insolvency protection and was ordered to stop selling tickets. Tata group and IndiGo are holding separate negotiations with Go First’s lessors, as well as discussing landing and parking slots with airport operators, including in New Delhi and Mumbai, according to sources. Go First’s lessors are seeking to repossess 36 aircraft, filings with the aviation regulator show. 
 

Several other parties have also expressed interest in the airport slots, the people said, asking not to be identified because the discussions are confidential. New carrier Akasa Air is among them, one of the people said. 
 

 

Cash-strapped Go First on Tuesday said it would respond to Directorate General of Civil Aviation (DGCA)’s show cause notice in due course and is taking all possible measures to reduce inconvenience to the passengers. 
 

“To reduce the inconvenience to the passengers, we had already stopped taking bookings, before the DGCA issued the notice,” Go First said on Tuesday, adding that the airline is taking all possible measures to reduce passenger inconvenience.

The clamour for Go First’s assets may complicate its bid to restructure debt and restart operations. India’s aviation regulator told the carrier to stop selling tickets on Monday, reminiscent of when fugitive billionaire Vijay Mallya’s Kingfisher Airlines was ordered to do the same about a decade ago. It never flew again. A decision is due in two weeks on whether Go First can keep its operating license.
 

Go First’s biggest lessors include Sky High XCV Leasing, ACG Aircraft Leasing Ireland  and SMBC Aviation Capital.

Founded in 2005 by magnate Nusli Wadia, Go First has said Pratt & Whitney engines on its A320neo aircraft deteriorated faster than expected and prematurely stopped working. The airline said it had to change more than 500 Pratt GTF engines between 2016 and February 2023, forcing planes out of service and leading to losses of $1.3 billion. 
 

Pratt, a unit of Raytheon Technologies, has previously said the Go First matter is being considered by law courts.

Go First, SpiceJet lessors seek delisting of more aircraft

More lessors of Go First asked the country’s aviation regulator on Tuesday to de-register at least nine aircraft of the cash-strapped company that filed for bankruptcy last week, according to notices on the regulator's website. Lessors of low-cost carrier SpiceJet, too, submitted requests to the Directorate General of Civil Aviation to deregister at least four aircraft on Tuesday.