On Tuesday, Go First filed for bankruptcy with the National Company Law Tribunal, blaming Pratt & Whitney engines for the grounding of about half its fleet
The funds for revival will be drawn from the Centre's Emergency Credit Line Guarantee Scheme (ECLGS) and better cash accruals, the airline said in a statement
In its insolvency filing, Go First said that the 'ever-increasing number of failing engines supplied by Pratt & Whitney's international Aero Engines' led to the grounding of 25 of its A320 neo jets
Go First's is offering fares from Rs 1,022 and IndiGo from Rs 1,122
A statement issued by Go First (erstwhile GoAir) said that the flight G8 873 from Bengaluru to Patna was diverted to Nagpur due to a 'faulty engine warning in the cockpit'
Airline major Go First has started a 16 per cent discount offer on airfare for passengers of both domestic and international flights to mark the completion of its 16 years of operations.
It's a bold bet by Jhunjhunwala, in a market that has seen some airlines collapse in the face of intense fare wars and high costs. Here's all you need to know about the new airline
Budget carrier Go Airlines, which has rebranded itself as 'Go First', has received market regulator Sebi's go-ahead for an initial public offer worth Rs 3,600 crore.
Airline says it is adequately funded till end of the year, listing will 'not be derailed'.
Airlines is depending on the IPO proceeds to repay debt and dues to creditors including Indian Oil Corp.
Issuance of observations by Sebi implies approval for a public offering
Go First was previously known as GoAir
Compared with other major countries during Covid-19, domestic airlines have precariously stayed the course
Wadia group backing helps airline negotiate with BNP Paribas, aircraft lessors
Except Bombay Dyeing and Manufacturing Company, all other Group stocks are seeing downside pressure
Go Air's debut on the exchanges may not trigger a re-rating for incumbent players, believe analysts, who expect turbulent times for the sector in the foreseeable future coupled with high valuations
With this credit line, the airline will not need to recast its loans
Their handling of employees as the Covid-19 crisis played out revealed the true character of aviation sector players
The low-cost airline has sent 90% of its employees on leave without pay till 4 May
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