Skift Take
GoFirst's bankruptcy filing is not unexpected given the airline's ongoing financial struggles. However, the real question is whether the airline can recover from this situation, especially as the country is still awaiting the resurrection of Jet Airways.
Indian low-cost carrier GoFirst filed for bankruptcy with the National Company Law Tribunal on Tuesday, citing mounting losses due to the grounding of almost half of its aircraft.
The airline, previously known as Go Air, attributed the grounding of its aircraft to engine delivery delays by Pratt & Whitney and said the delay has resulted in losses amounting to $1.32 billion.
The bankruptcy filing was announced shortly after the airline said it will temporarily suspend flight operations on May 3-5 due to a “severe fund crunch.” GoFirst CEO Kaushik Khona said the flights would restart once the tribunal admits the application.
https://twitter.com/GoFirstairways/status/1653425583769141248Since 2019, GoFirst is the second Indian airline to file for bankruptcy after Jet Airways.
GoFirst was the fifth largest airline in India by scheduled departures this month, according to aviation analytics firm Cirium.
GoFirst had plans to operate to 34 destinations in Asia in May, with its primary operations taking place at Delh