It is pertinent to note that the CM made a commitment back in June 2022 during the Odisha Investors' Meet held in Dubai to establish international flight connectivity between Odisha and Dubai in the first phase.
NCLAT on Friday deferred the matter pertaining to Go First lessors' petition seeking a stay on a bankruptcy court order allowing voluntary insolvency of the low-cost airline to Monday.
AWG should focus on ensuring that its own members abide by international arbitration awards rather than issuing threatening watch list notices to India and quoting the Cape Town Convention (CTC) to influence the proceedings currently being heard in the National Company Law Appellate Tribu
Over 2,200 airplanes will be coming to India in the next 20 years and there is need to train 31,000 pilots, Boeing India President Salil Gupte has said
On the Go First issue of bankruptcy, US aircraft manufacturer company Boeing India on Friday said these are unfortunate circumstances for the airline, the lessors, travellers and for all the stakeholders.
SpiceJet has initiated the process of reviving its grounded fleet with the USD 50 million funds received by the airline from the government's Emergency Credit Line Guarantee Scheme (ECLGS) and internal cash accruals.
"Go First's allegations that Pratt & Whitney is responsible for its financial condition are without merit. Pratt & Whitney will vigorously defend itself against Go's claims, and is pursuing its own legal recourse," Pratt & Whitney Spokesperson told ANI.
Go First CEO Kaushik Khona met DGCA officials right after the National Company Law Tribunal (NCLT) in its judgement on Wednesday admitted the plea of Go First Airlines for insolvency proceedings.
Go First Airline Chief Executive Officer Kaushik Khona on Wednesday said the airline was grateful for the entire process of NCLT and noted that this is in line with the spirit of the Insolvency and Bankruptcy Code (IBC)
Go First Chief Executive Officer Kaushik Khona said after NCLT decision, "This is a historic ruling as an application of insolvency has been admitted so fast. The order prevents a viable airline from becoming an unviable one. The purpose of IBC has always been revival."
The NCLT, the President Justice Ramalingam Sudhakar and technical member LN Gupta announced the order, adding, "We appoint Abhilash Lal as IRP (Insolvency Resolution Professional). Suspended board of directors will cooperate with the IRP."