With the cash-strapped carrier suspending operations, the Indian airline sector seems to be rapidly moving towards a duopoly that offers flyers fewer choices and higher prices.
In 2021, a small but well-run Go First came out of COVID-19 battered but spirited with plans for a Rs 3,600 crore initial public offering that was going to help reduce debt. However, multiple factors combined to continually delay the IPO, which could have proved a lifeline for the Wadia Group airline.
Earlier this month, the beleaguered airline filed for voluntary insolvency with an aim to restructure its debt and liabilities so that it could resume operations. Go First had been struggling ever since half its fleet was grounded because of engine issues. As of 28 April, it owes creditors …
Ujval leads our Business vertical at The Morning Context. In a corporate career spanning 14 years, he has worked across startups, consulting firms, multinational corporations and large Indian companies, including India Infoline, ICICI, KPMG, Tata Steel and Jubilant Pharma. Ujval has been a freelance writer and trainer for eight years, with bylines in Forbes India and The Economic Times.
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