Go First creditors vote to liquidate airline
Creditors decided to liquidate Go First Airlines after a year-long search for a buyer failed. The liquidation plea was filed with the Delhi NCLT. Offers from potential buyers did not meet expectations. Creditors are looking to recover funds through ongoing arbitration against Pratt & Whitney and an auction of a land parcel in Thane. The airline owes about ₹6,200 crore. Lenders, led by the Central Bank of India, are pursuing over $1 billion in claims against Pratt & Whitney for supplying faulty engines that contributed to the airline's bankruptcy.