In a major boost for Go First as it moves forward on its path to resume commercial operations, the airline has taken the delivery of two engines from Pratt & Whitney (P&W), reports Financial Times (FE)
The media report cites sources claiming that the airline is expecting delivery of another five engines in August 2023 and that the two new engines will allow the airline to add another aircraft to its fleet, taking the total number of operational planes to 27
Just last week, the airline received a nod of approval from Directorate General of Civil Aviation (DGCA) to resume commercial operations with 15 aircraft and 114 daily flights.
As of now, the airline has a total fleet of 54 aircraft of which 28 are grounded due to engine issues.
Meanwhile, Go First plans to restart operations once the DGCA clears its final flight schedule.
Going ahead, Go First has received claims worth INR 240 billion from operational and financial creditors amidst its ongoing insolvency.
The process is in accordance with Indian law regarding bankruptcy which allows every creditor a right to payment and remedy by submitting claims in the case of a company going bankrupt. After filing, these claims need to be verified by a resolution professional.
A banker from a state-run bank, who has exposure to the airlines, said, "Claims from the lenders are around 50 billion rupees, while lessors' claims amount to 180 billion rupees so far", as reported by Reuters.
The resolution professional is yet to verify these claims. The company invited expression of interest) (EoI) earlier this month through a court-appointed administrator. “The airline has received 40 queries on EOIs (expression of interest) from potential bidders, but no formal submissions have been made as yet”, noted another banker in the Reuters report.