ARTICLE · 16 JUNE 2023

Corporate Newsletter June, 2023

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India is witnessing yet another instance of airline insolvency proceedings within the past 5 years, following the case of Jet Airways. This time the airline in question is Go Airlines (India)Limited ("Go First").

IndiaTransport

Hardik Sabbarwal

GO FIRST'S SAGA CONTINUES...

India is witnessing yet another instance of airline insolvency proceedings within the past 5 years, following the case of Jet Airways. This time the airline in question is Go Airlines (India)Limited ("Go First")

Background:

Go First, incorporated on April 29, 2004, took its first flight from Mumbai to Ahmedabad in November 2005, marking the commencement of its flight operations. The fleet of Go First consists of 59 aircrafts, including 54 - A320 NEO aircrafts and 5 - A320 CEO aircrafts. Positioned as India's low-cost airline, Go First aimed to make air travel affordable and accessible to the masses. Unfortunately, Go First seems to have landed itself in a financial distress from which its take-off does not appear to be easy.

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