Go First (G8, Mumbai International) has filed for insolvency at the National Company Law Tribunal in Delhi, blaming Pratt & Whitneys defective and failing engines for a cash-flow crisis, it said in a two-page statement on May 2. According to local media, it has suspended its flights for May 3 and 4.
The low-cost carrier said it had filed an application with the tribunal to enter the Corporate Insolvency Resolution Process under section 10 of Indias Insolvency Bankruptcy Code. It has also taken the step of suing the engine maker for INR80 billion rupees (USD977.2 million) in damages at the Singapore International Arbitration Centre (SIAC), it said.
An ever-increasing number of failing engines supplied by Pratt & Whitneys International Aer…
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