Go First in a tailspin, files for insolvency; blames P&W engines

Wadia-owned Go First on Tuesday filed for insolvency, driven by a cash crunch that resulted from the grounding of nearly half its 57 aircraft.

The airline squarely blamed engine manufacturer Pratt & Whitney for the step and suspended all flights till Thursday.

Bankers to the company will hold a meeting on Wednesday for a review and discuss steps to be taken.

For the past few days, the airline has been flying around 200 flights daily, carrying 25,000-30,000 passengers a day.

The Directorate General of Civil Aviation has issued a show-cause notice to the airline for non-intimation about flights cancelled on May 3 and 4.