Following its highest ever operational loss clocked in 2022 as it was still recovering from the pandemic, budget airline Go First has been battling a financial crisis and serious operational glitches. Earlier this year its flight left without 50 passengers, and Go First was also hit by rumours of its promoters exiting the firm.
After grounding more than 50 per cent of its fleet and cancelling flights on May 3 and 4, 2023, Indian carrier Go First has sued American engine manufacturer Pratt & Whitney.
Engine shortage multiplies Go First's losses
The airline had already cited the non-delivery of engines by the American manufacturer, as an impediment to its operations in India.
Go First has also opted for voluntary insolvency, even after it was expected to receive Rs 600 in the form of promoter equity and bank debts by the end of April.
Since it was forced to cancel flights because of a shortage of engines caused by Pratt & Whitney, Go First's market share has also plummeted from 8.4 per cent to 6.9 per cent.
Go First not the only carrier hit
Apart from Go First, leading Indian carrier IndiGo has also been affected by the non-delivery of engines by Pratt & Whitney.
This year, The DGCA itself reportedly intervened after the two carriers were forced to ground as many as 60 aircraft because of engine shortage.
