The Indian aviation sector has suffered huge losses due to faulty engines supplied by American firm Pratt & Whitney, with nearly 75 aircraft currently grounded across the nation, top executives of Go First Airlines said. The grounding of aeroplanes due to issues with P&W engines has led to a spike in airfare, they said.
Asking Aviation Working Group (AWG) - an association of aircraft lessors, engine makers, and plane makers - to pressure P&W to meet its obligation to supply engines, they claimed its members via the lobby group were trying to "influence" the National Company Law Appellate Tribunal (NCLAT).
Aircraft lessors have moved the appellate tribunal after the National Company Law Tribunal (NCLT) admitted Go First's voluntary plea to initiate an insolvency resolution process. Reacting to news that AWG has put India on a watch list for not deregistering Go First aircraft upon the termination of their leases, the airline executives said AWG would be better served by addressing the huge losses suffered by local airlines due to faulty P&W engines supplied to Go First and IndiGo.
This story is from the May 15, 2023 edition of Business Standard.
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This story is from the May 15, 2023 edition of Business Standard.
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