Cash-strapped Indian airline Go First Airways filed for insolvency proceedings with the National Company Law Tribunal on Tuesday, blaming Pratt & Whitney engines for the grounding of about half its fleet.
The insolvency filing marks the first major airline collapse in the country since Jet Airways filed for bankruptcy in 2019, and underscores the fierce competition in the sector.
Go First's filing comes after Pratt & Whitney, the exclusive engine supplier for the airline's Airbus A320neo aircraft fleet, refused to comply with an order to release engines to the airline that would have allowed it return to full operations, the company said.
"...in the absence of Pratt & Whitney not providing the required number of spare leased engines in accordance with the order issued by the emergency arbitrator, Go First is no longer in a position to continue to meet its financial obligations," the airline said.
Pratt & Whitney, a Raytheon Technologies unit, was not immediately available for comment.
Local media reported that Go First had suspended its flights for May 3 and 4.