NEW DELHI, Might 3 (Reuters) – India’s Wadia Group, the proprietor of cash-strapped Go Airways (India) Ltd, is totally dedicated to the corporate, and has no plans to exit it, the airline’s chief govt mentioned on Wednesday.
The information got here a day after the airline, just lately rebranded as Go First, filed for chapter, blaming “defective” Pratt & Whitney (P&W) engines for the grounding of about half its fleet.
The insolvency proceedings had been aimed toward reviving the airline and never promoting it, Chief Govt Kaushik Khona informed Reuters in an interview, including that the corporate had made all funds to Pratt & Whitney.
The airline was additionally trying to interact with lessors to dissuade them from taking any motion, he added.
The primary main airline collapse in India since that of Jet Airways in 2019 underscores the fierce competitors in a sector dominated by IndiGo and the latest merger of Air India and Vistara underneath the Tata conglomerate.
Reporting by Tanvi Mehta and Chris Thomas; Modifying by Clarence Fernandez
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