The fate of India’s fourth-largest carrier Go Airlines (India) Ltd and its 7,000 employees is set to be decided on Wednesday, in a bankruptcy plea ruling that will also have major implications for foreign lessors trying to repossess planes.
The low-cost carrier, recently rebranded as Go First, has said its financial crisis was sparked by “faulty” Pratt & Whitney engines that grounded about half its 54 Airbus A320neos. The U.S. engine maker, part of Raytheon Technologies , has called the claims without evidence.
If the Indian tribunal admits Go First’s plea, it will lead to appointment of a new resolution professional who will take over management to revive the airline run by India’s Wadia Group.
