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  • Writer's pictureAvaitors Maldives

Indian Carrier Go First Files For Bankruptcy

Go First launched in 2005 as GoAir risen to become India’s fourth-largest domestic airline by passenger numbers in 2023.


Following months of struggle, Go First has now filed for bankruptcy canceling hundreds of flights blaming engine supply issues. Go First is the first leading Indian carrier to collapse since 2019’s collapse of Jet Airways.


All flights have been canceled from 3rd May and the carrier has filed for voluntary insolvency with India’s National Company Law Tribunal.


Go First states the carrier had to take the step following the failure of engine supply from Pratt & Whitney which resulted in the grounding of half of the carrier's Airbus fleet ultimately canceling hundreds of flights. Overall Go First suffered a USD 1.3 billion in lost revenue.


Go First also said Pratt & Whitney failed to follow an order by an emergency arbitrator in Singapore, which directed the company to provide a minimum of 10 serviceable engines by 27 April 2023.


The Indian aviation market has recovered substantially following the pandemic and Go First accounted for 7.8% of the market share in the first three months of 2023.


With 53 Airbus A320s, the carrier operated to 39 destinations including 10 international destinations. Go First operated multiple flights to Velana International Airport in the Maldives from various cities in India.


Go First was rated as the "Best Domestic Airline For Excellence in Quality and Efficient Service" by Pacific Area Travel Writers Association in 2008 and was named the "Best Performing Airline" in Asia and Africa of all Airbus A320 operators by Airbus 2011 based on fleet utilization and other performance metrics.


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