Home Posts tagged insolvency
Aviation Top Stories
SpiceJet has categorically ruled out filing for insolvency. And initiated the process of reviving its grounded fleet with the $50 million funds received by the airline from the government’s Emergency Credit Line Guarantee Scheme (ECLGS) and internal cash accruals. In view of the recent developments in the Indian aviation market, the airline has categorically stated […]Continue Reading
Aviation Top Stories
In a major relief for the struggling budget airline Go First, the National Company Law Tribunal (NCLT) today admitted its voluntary plea to initiate an insolvency resolution process, which is aimed at restructuring debt and liabilities. Calling the order a “perfect example” in the context of reviving a viable business before it becomes unviable, Go […]Continue Reading
Aviation Top Stories
Go First, a low-cost airline, has suspended its flights for three days and filed for bankruptcy due to mounting losses attributed to delays in the delivery of Pratt and Whitney engines, which have grounded half its fleet. The airline has sought compensation of approximately INR 8,000 crore in the Singapore International Arbitration Centre (SIAC) arbitration, […]Continue Reading
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