Go First is expecting an infusion of INR 2100 million under the Indian Government’s credit line guarantee scheme next month as the airline is planning to expand its operation and boost its financial position. So far Go First has availed INR 6 bn from the Government’s Emergency Credit Line Guarantee Scheme (ECLGS).
The airline recently received INR 2100 million from its promoters last month.
Apart from struggling financially due to pandemic headwinds and intense competition, the airline had to ground several of its aircraft due to shortage of Pratt & Whitney engines. However, the airline claims that this issue is gradually being resolved with 20 engines arriving as early as April 2023.
The airline is also planning to induct seven new Airbus A320neo by the first week of April. Of this, the airline inducted one such plane last week. Of the remaining six, two will come in February, three in March and one in April. The airline plans to have 9 new aircraft by march 2024.
Currently the airline has 37 operational aircraft and with 20 engines due in April, the airline will have another 10 aircraft ready for commercial operations. Thus, the airline will have 53 operational aircraft by April 2023.