Mon, Jan 15, 2024
The second banker said the Committee of Creditors could also consider extending the month-end deadline at the request of a potential suitor.
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Tue, Dec 26, 2023
An airline's OTP is widely used as a powerful key indicator for airlines and airports and is also a potential service differentiator for marketing the brand to air travellers.
Tue, Dec 19, 2023
The SpiceJet board has recently approved and initiated process of raising fresh capital of about US$ 270 million to strengthen its financial position and provide resources to invest in growth plans.
Tue, May 09, 2023
Go First crisis: The NCLT would decide on Go First's plea seeking an interim moratorium on its financial obligations on Wednesday at 10:30 am
Mon, May 08, 2023
Aviation regulator Directorate General of Civil Aviation (DGCA) on Monday issued a second notice to low-fare airline Go First that suspended flights from May 3 and told the airline to stop booking and selling tickets with immediate effect.
Go First has been issued notice for its failure to continue the operation of the service in a safe, efficient and reliable manner.
Fri, May 05, 2023
"... Due to operational reasons, Go First flights scheduled till 12th May 2023 have been cancelled," the airline said in a tweet.
Thu, May 04, 2023
Cash-strapped budget airline Go First has sought an interim moratorium as the Delhi chapter of the National Company Law Tribunal (NCLT) began hearing its voluntary insolvency plea on May 4.
Low-cost airline Go First has filed for bankruptcy due to a severe cash crunch and all its flights will be suspended for at least three days starting May 3. On its website, the airline said, “We regret to inform that due to operational reasons, Go First flights scheduled for 3rd, 4th and 5th May 2023 have been cancelled. We apologize for the inconvenience caused by the flight cancellations.”
After examining the reply filed by Go First, the watchdog has issued an order "under the prevailing regulations directing them to process the refunds to passengers as per the timelines specifically stipulated in the relevant regulation".
Wed, May 03, 2023
Go First Airways filed for insolvency resolution proceedings in the National Company Law Tribunal and announced that it will suspend its flight operations from May 3-5. But why did the airline take this drastic step at the time domestic air travel is soaring?
The Wadia Group-owned Go First has suspended flights for May 3, 4 and 5 due to a severe fund crunch. The company said that they had to take this step due to the shortage of engines and cash crunch. Is the shortage of engines responsible for the cancellation of the Go First flights? Who is responsible for the Go First crisis? Will the Go First crisis make air travel costlier? Will the losses of Go First be compensated? Is this a red flag for the aviation sector? Watch this special discussion on Aapki Khabar Aapka Fayda.
The Wadia Group-owned Go First has suspended flights for May 3, 4 and 5 due to a severe fund crunch. Domestic budget carrier Go First announced that it has filed an application for voluntary insolvency resolution proceedings before the National Company Law Tribunal (NCLT), Delhi. Why has Go First filed for bankruptcy? Watch the full story in this video.
Go First news: Bogged down by an acute financial crunch due to grounding of more than half of its fleet amid P&W engine supply woes, Go First has cancelled flights for three days starting May 3.
Go First news: Go First chief Kaushik Khona has told employees that the airline has been crippled by recurring Pratt & Whitney engine troubles and assured that the carrier is doing everything possible to navigate the situation with utmost care and concern for all staff.
Credit Suisse, in its latest report, said that Go First bankruptcy can benefit InterGlobe Aviation, in terms of higher market share and stronger yields in a capacity-constrained environment.
P&W said in its statement noted: "Pratt & Whitney is committed to the success of our airline customers, and we continue to prioritize delivery schedules for all customers. Pratt & Whitney is complying with the March 2023 arbitration ruling related to Go First."
According to Reuters, Go First owes Rs 652.1 crore ($798 million) to Central Bank of India (CBI.NS), Bank of Baroda, IDBI Bank, and Deutsche Bank are among Go First's financial creditors.
Go First filed for bankruptcy, banks at risk, Which stocks are under pressure? Know from Anil Singhvi.
Tue, May 02, 2023
The Wadia Group-owned Go First has suspended flights for May 3, 4 and 5 due to a severe fund crunch. Domestic budget carrier Go First announced that it has filed an application for voluntary insolvency resolution proceedings before the National Company Law Tribunal (NCLT), Delhi. Why Go First has cancelled flights and filed for bankruptcy? Watch this special discussion on India 360.
Go First Ticket Cancellation Refund Process: Cash-strapped airline Go First's announcement on Tuesday that its flights stand cancelled for May 3, 4 and 5, led to confusion among ticket-holders who had booked to travel on the airline on these three days.
Sun, Feb 26, 2023
IndiGo has more than 300 planes in its fleet and has two engine suppliers -- Pratt & Whitney and CFM International -- while Go First has around 61 aircraft and P&W is its lone engine supplier
Mon, Jan 30, 2023
Wadia group-owned Go First expects to receive Rs 210 crore under the government's credit line guarantee scheme next month as the budget airline seeks to boost its financial position and expand operations.
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