CEO of Go First said – The purpose of declaring ‘bankruptcy’ is not to ‘sell’ the company but to ‘save’!


Go First के CEO बोले-

Kaushik Khona said that every possible effort is being made to save Go First. Image Credit source: File Photo

After the year 2019, there has been a new earthquake in the aviation sector of the country. Then Jet Airways had stopped working and now Go First, the airlines providing cheap flight service, is going to shut down. The company has applied to NCLT to declare itself bankrupt. Meanwhile, Kaushik Khona, CEO of GoFirst, has given a very touching statement while addressing the employees.

Kaushik Khona said on Wednesday that taking GoFirst under the ‘bankruptcy process’ had become the compulsion of the company. However, this does not mean that its owner i.e. Wadia Group wants to ‘sell’ the company. He has no plan to come out of this business and the purpose of going into ‘bankruptcy process’ is to ‘save’ the company.

‘Extremely concerned for employees’

Kaushik Khona said that every possible effort is being made to save Go First. He assured the employees that the company is concerned about them. However, due to cash crunch, the company had to apply for ‘bankruptcy’ process. GoFirst has suspended its flights for three days from Wednesday. NCLT is going to hear the matter of Go First on 4th May.

Pratt and Whitney did badly

In his statement, CEO Kaushik Khona said that Pratt & Whitney (P&W) has failed to supply the engine to the company. Due to this a serious crisis has arisen in front of him. More than 12 months have passed, GoFirst’s management has been repeatedly asking Pratt & Whitney to provide additional engines.

GoFirst has also asked the company to repair the old engine. But Pratt & Whitney is creating some hurdle or the other every time. We also went to Singapore’s Emergency Arbitration and the award came in our favor, but Pratt & Whitney has failed to complete it.

The Singapore arbitration has asked Pratt & Whitney to lease additional engines by April 27 and the remaining 10 additional engines every month till December 2023. Kaushik Khona said that if this could happen, by August-September all the A320 Neo aircraft of GoFirst would have become operational. This would have made it easier for us to run the company.

However, Pratt & Whitney has meanwhile said that it is trying to fulfill the arbitration award.

What did Pratt and Whitney say?

Aircraft engine maker Pratt & Whitney has said in a statement that it is committed to the success of its airline customers. It is prioritizing the delivery schedule for all its customers. The company is following the arbitration award of March 2023 in the case related to Go First. This matter is still under consideration in the court, so the company cannot say anything more in its clarification than this.

Half of GoFirst planes ‘incompetent’ to fly

GoFirst has a fleet of about 61 aircraft. While Pratt & Whitney’s 30 aircraft are unable to fly due to engine problems. The CEO of the company says that due to the reduction in the fleet size, the airlines are not able to raise money even to pay the lessors, and they are now forcibly demanding their aircraft back.

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