Business | Bankruptcy in India

Go First’s insolvency tests India’s bankruptcy regime

A law meant to speed up going broke needs its own restructuring

Tail Fins of Go First aircrafts, formerly known as GoAir, can be seen parked at the tarmac at the airport in New Delhi, India on May 21, 2023. — Image: REX/Shutterstock

Jun 1st 2023|Mumbai

GO FIRST, an Indian low-cost airline, collapsed in May under the weight of four years of losses, citations for safety lapses and operating confusion that, in January, resulted in a flight from Bangalore to Delhi carrying baggage but forgetting a third of its passengers. At least the carrier held valuable assets in the form of 45 or so aircraft stranded at Indian airports. And, as a high-priority case, it was supposedly subject to expedited bankruptcy hearings.

This article appeared in the Business section of the print edition under the headline “Going broke? Go slow”