"Go First" has filed for bankruptcy with the National Company Law Tribunal in Delhi. Billionaire Nusli Wadia is blaming US engine maker Pratt & Whitney for the situation.
Go Airlines, founded by billionaire Nusli Wadia, filed for bankruptcy on Tuesday with the low-cost carrier blaming US engine-maker Pratt & Whitney for grounding half of its fleet. Rechristened Go First last May, the airline that started flying in 2005 becomes the first Wadia Croup entity to declare bankruptcy in its 287-year history and the third major airline to collapse since 2012 after Kingfisher and Jet.
The bankruptcy application, once admitted by the National Company Law Tribunal Delhi, will see Wadia, his son Ness Wadia, airline chairman Varun Berry and other board members as well as the management cede control to a resolution professional appointed by the forum.
The airline suspended all its flights from Wednesday to Friday (May 3 to 5) amid massive travel demand in India with domestic traffi...
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