Go First Needs To Raise Funds: Resolution Professional Tells Staff
Go Airlines will need to raise funds to revive the bankrupt company amid plans to keep it as a going concern, the recently appointed resolution professional informed staff on Thursday
Reuters NEW DELHI
Go First Airbus A320neo planes are powered by Pratt & Whitney (P&W)-geared turbofan engines.
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NEW DELHI (Reuters) - Go Airlines (India) will need to raise funds to revive the bankrupt company amid plans to keep it as a going concern, the recently appointed resolution professional informed staff on Thursday, a source with direct knowledge of the matter told Reuters.
The low-cost carrier, recently rebranded as Go First, was granted bankruptcy protection by a tribunal in New Delhi after it plunged into financial crisis due to what it called "faulty" Pratt & Whitney engines that grounded about half its 54 Airbus A320neos.
(Reporting by Aditya Kalra Writing by Tanvi Mehta; Editing by Mark Potter)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: May 11 2023 | 3:09 PM IST
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