Go First Airlines has refuted the rumours that it was planning to exit the aviation business amid a cash crunch.
Speaking to ANI, a top official of Go First Airlines said: "We have no plans to shed stake or exit the aviation business. Our promoters are committed to the business and are infusing further funds in the form of equity. The the carrier was very confident of receiving INR 6000 million in the form of promoter equity and bank loan by the end of April 2023.”
"This would help us meet our immediate capital requirements. The Wadia family and the bank will provide INR 3000 million each. Promoters have consistently supported the airline from inception and provided liquidity from time to time," the official added.
Go First is running daily operations with 28 aircraft out of the airline`s fleet of 57, with the remaining aircraft grounded due to trouble with Pratt & Whitney engines.