A Go First aircraft is seen parked at Mumbai’s international airport. (Photo: AFP)
NEW DELHI: An Indian tribunal on Wednesday granted bankruptcy protection to Go Airlines (India) Ltd, a move that will help the country’s fourth-largest carrier attempt to revive itself but complicate foreign lessors’ efforts to repossess their planes.
The low-cost carrier, recently rebranded as Go First, has said its financial crisis was sparked by what it called “faulty” Pratt & Whitney engines that grounded about half its 54 Airbus A320neos. The US engine maker, part of Raytheon Technologies, has said the claims are without evidence.
The National Company Law Tribunal in New Delhi ordered a moratorium on Go First’s assets and leases. It also…
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