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Aviation

No plane, no gain: How Go First became less attractive to bidders

No plane, no gain: How Go First became less attractive to bidders
No plane, no gain: How Go First became less attractive to bidders
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Delhi High Court has allowed Go First planes to be taken away by its owners

Synopsis

As Go First’s lessors are bracing for tough times, the lack of a functional fleet makes the airline a less attractive proposition for bidders.

Soon after Nusli Wadia’s Go First filed for bankruptcy in May last year, the Mumbai-based airline stopped paying its employees their monthly salaries. It came as a shock not only for those who had spent years at the low-cost carrier owned by one of India’s oldest and biggest conglomerates but also for the country’s aviation industry. “He [Wadia] kept saying no, and formally denied payments in October saying he had already done enough,” says a Go
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The Economic Times