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Here’s the live event of the National Company Law Tribunal’s verdict on the Go First airline’s plea:
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- May 10, 2023 11:41
NCLT grants bankruptcy protection to Go First
On Wednesday, the NCLT provided Go Airlines with bankruptcy protection, which will aid the company’s efforts to recover, but will also make it more challenging for foreign lessors to take back their planes.
Go Airlines, which has recently been renamed as Go First, is a budget airline that claims its financial difficulties were caused by malfunctioning Pratt & Whitney engines that grounded nearly half of its fleet of 54 Airbus A320neos. However, the U.S. engine manufacturer, which is part of Raytheon Technologies, has denied the allegations, stating that there is no evidence to support them.
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