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Indian aviation updates: Although there are currently no regulatory restrictions on domestic banks lending to other group entities of bankrupt companies, such transactions are difficult to execute given the enhanced credit risks at the group level, according to industry experts.
A formal bid to be placed after Jindal Power conducts 'proper due diligence'
Aviation regulator DGCA will examine documents submitted by Go First related to the revival plan and will also conduct an audit on operational preparedness before allowing the carrier to restart operations, sources said on Wednesday.
Domestic travel has become unaffordable for the average flyer. Airfares, especially for spot bookings on the country’s busiest routes, have risen three times over the last month. This has a lot to do with Go First suspending operations and the growing demand during school summer vacations
Go First, the Wadia Group-owned carrier, has filed for bankruptcy stating that the ‘serial failure’ of Pratt & Whitney engines is to blame. The low-cost, no-frills airline said in a statement that it had lost Rs 10,800 in revenue due to the ‘defective’ engines provided by the Connecticut-based company