Another Indian airline founded by a billionaire is on the brink of shutting down for good, having tried and so far failed to attract a savior after entering bankruptcy protection in May.
Go Airlines India Ltd.’s chances are fading. Chief Executive Officer Kaushik Khona quit at the end of November, saying he couldn’t get the carrier flying again and that staff hadn’t been paid for six months. Go flight attendants and pilots are looking for jobs elsewhere.
Meanwhile, Jindal Power Ltd. — Go’s sole potential buyer under its insolvency resolution process — has decided not to bid.
