Indian airline Go First files for bankruptcy, blaming 'faulty' Pratt & Whitney engines for the grounding of about half its fleet.
IndiGo has also had to ground planes because its P&W engines faced problems, but its bigger fleet with diverse engines, and its deeper pockets, meant it could overcome the troubles better than Go First.By April, Go First had to ground more than 50% of its 54 Airbus 320neos fitted with P&W engines, up from 31% in 2020, according to the filing seen by Reuters. Engine failures have cost Go First 108 billion rupees in lost revenue and expenses, it said.
“The deterioration in the company’s financial performance was also accentuated by the outbreak of COVID-19 which resulted in crippling restrictions on air travel and use of public transport,” the filing said. The airline started operations in 2005 and is owned by bed sheets-to-biscuits Wadia Group, one of India’s oldest conglomerates.
The Wadia family has pumped 32 billion rupees into the airline in the past three years, 75% of that in the past year, Go First said.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Globe reports successful tests of VoLTE Roaming with Indian operator
Read more »
Jerusalem gets useful tips from Donaire, Nietes as he gears for first title defenseMelvin Jerusalem, the reigning World Boxing Organization (WBO) world minimumweight champion received inspiring pieces of advice from two former world champions as he bids to defend his title on May 27 in the United States. CDNDigital
Read more »
Cherry unveils first smart TV line up | BMPlusCHERRY continues to expand its portfolio as it officially unveils its first TV product lineup, the CHERRY Aqua Smart TV. TV is a source of home entertainment and a regular fixture in most Filipino households. Nowadays, TV has evolved from a passive source of entertainment to a highly interactive one.…
Read more »
Brecel becomes mainland Europe's first world snooker champ | The Associated PressSHEFFIELD, England—Luca Brecel of Belgium became snooker's first world champion from mainland Europe after beating four-time winner Mark Selby 18-15 in the final on Monday. Brecel hadn't won a match at the Crucible Theatre in Sheffield in five previous visits to the home of snooker. Yet this year, he beat…
Read more »
LOOK: First ready-to-cook fish fillet dished out by 3D printerThe narrow 'fish fillet' mimics the flakiness of traditional, sea-caught fish and when fried and seasoned it is hard to tell the difference.
Read more »
IN PHOTOS: Celebrity kids' first experience as ate and kuyaCheck out these adorable celebrity kids with their baby siblings. ❤️
Read more »