Go First owner has no plans to exit airline: CEO

by DailyBriefers
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The day after India’s Go Airlines filed for bankruptcy, Reuters exclusively reported that its owner does not intend to exit the cash-strapped airline. In its bankruptcy filing, India’s third-largest airline, which recently re-branded as Go First, claimed its failure followed a refusal by Pratt & Whitney to abide by an arbitration order to release spare leased engines that would have allowed it to return to full operations. 

Market Impact

Go First’s bankruptcy could be a boon for its rivals. Lenders to Go First, including Central Bank of India <CBI.NS>, Bank of Baroda <BOB.NS> and IDBI Bank <IDBI.NS> fell on Wednesday. 

Article Tags

Type: Reuters Best

Sectors: Aerospace & Defence

Regions: Asia

Countries: India

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Significant National Story

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