Go First files for bankruptcy
Indian airline Go First has officially filed for bankruptcy blaming ‘faulty’ Pratt & Whitney engines for the grounding of about half its fleet.
Go First's total debt to financial creditors was US $798 million as of April 28, it said in a bankruptcy filing with the National Company Law Tribunal.
Go First said in a statement its filing followed a refusal by Pratt & Whitney, the exclusive engine supplier for the airline's Airbus A320neo aircraft fleet.
The company "had to take this step due to the ever-increasing number of failing engines supplied by Pratt & Whitney," Go First said in a statement.
Go First said that the problem forced it to ground 25 aircraft - about half of its fleet of Airbus A320neo planes - which caused around $1.3bn in lost revenue and expenses.
The airline also accused Pratt & Whitney of not following an order by an emergency arbitrator, which included supplying "at least 10 serviceable spare leased engines by 27 April 2023".
In response, Pratt & Whitney said it was "complying with the March 2023 arbitration ruling" and it cannot comment further as "this is now a matter of litigation.”
India's Civil Aviation Minister Jyotiraditya Scindia said: "The government of India has been assisting the airline in every possible manner."
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