Wadia group has begun talks to either sell a significant stake in or completely exit the budget carrier Go First, a report by The Economic Times (ET) said. The airline reported its highest annual financial loss in 2021-22 and has been facing operational issues.
In the past few months, Go First’s over half aircraft have been grounded due to supply chain disruptions due to Pratt & Whitney (P&W) engines.
In an otherwise upbeat domestic aviation market, Go First has lost a significant amount of money lately. Initially, it availed of Rs 600 crore under the Centre’s Emergency Credit Line Guarantee Scheme (ECLGS). Separately, Wadia Group infused Rs 3,000 crore over the past 15 months in the airline.
