Financial woes. Go First backs emergency arbitration in Pratt & Whitney dispute

Reuters Updated - May 16, 2023 at 09:37 AM.

The airline blames the Raytheon Technologies-owned engine maker for its financial woes and recent bankruptcy filing

Go Airlines said on Monday it needed an emergency arbitration in its dispute with engine maker Pratt & Whitney to be enforced in Delaware to prevent it from going out of business.

The airline blames the Raytheon Technologies-owned engine maker for its financial woes and recent bankruptcy filing, arguing that the U.S. firm supplied "faulty" engines and failed to replace them on time, resulting in the grounding of half of its fleet.

Go Airlines, also known as Go First, has approached a district court in Delaware to enforce an arbitration order made in Singapore in March, which ordered Pratt to assist the airline and supply serviceable spare engines.

Also read: Disheartened Go First pilots rush to Air India’s jobs drive

Last week, Pratt & Whitney argued in the Delaware court that Go First's claim was "unfounded" and the dynamics of the dispute had changed. The engine maker said it faces more risks after Go First was granted bankruptcy protection and asked the court to put on hold or dismiss the airline's request.

Pratt's argument "fails," Go Airlines said in a filing with the Delaware court.

There is a very real danger that Go First will go out of business unless relief is given, at least in respect of delivery of engines, the airline quoted the emergency arbitrator as saying in the filing.

The stay that Pratt sought would cause the harm that the emergency arbitration awards were designed to prevent, the filing added.

Also read: Tata Group, IndiGo prepare to swoop on Go Air’s aviation assets

Pratt & Whitney did not immediately respond to a request for comment.

Last week, the National Company Law Tribunal admitted Go First for insolvency proceedings and appointed Abhilash Lal of Alvarez and Marsal as the interim resolution professional (IRP).

Published on May 16, 2023 04:07

This is a Premium article available exclusively to our subscribers.

Subscribe now to and get well-researched and unbiased insights on the Stock market, Economy, Commodities and more...

You have reached your free article limit.

Subscribe now to and get well-researched and unbiased insights on the Stock market, Economy, Commodities and more...

You have reached your free article limit.
Subscribe now to and get well-researched and unbiased insights on the Stock market, Economy, Commodities and more...

TheHindu Businessline operates by its editorial values to provide you quality journalism.

This is your last free article.