GoFirst to get Rs 210 cr under credit line guarantee scheme, CEO says
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The company is planning to improve its financial position and expand operations. The company’s Chief Executive Officer (CEO) Kaushik Khona gave this information to PTI.
Wadia Group’s airline GoFirst is likely to get Rs 210 crore next month under the government’s credit line guarantee scheme. The company is planning to improve its financial position and expand operations. The company’s Chief Executive Officer (CEO) Kaushik Khona gave this information to PTI. He informed that the airline aims to increase the number of aircraft in operation to 53 by April this year. The airline currently has 37 aircraft in operation.
The company had raised Rs 210 crore from the promoters last month. Apart from the outbreak of the Corona epidemic, the company is also facing the problem of Pratt & Whitney engines. He was forced to ground several aircraft due to a lack of engines. GoFirst has so far received Rs 600 crore under the Emergency Credit Line Guarantee Scheme (ECLGS). This scheme has given relief to the companies facing the outbreak of Corona epidemic.
Khona said that apart from the promoters giving Rs 210 crore, the airline will get an equal amount from the ECLGS next month. In an interview, Khona said that the engine problem is slowly being resolved and 20 new engines are expected to be received from Pratt & Whitney by April. He said that 20 engines can help run 10 aircraft. An aircraft has two engines. He informed that seven new Airbus A320 Neo aircraft will arrive by the first week of April. One of these aircraft has arrived last week. He said that nine more aircraft would be inducted in the airline by March, 2024.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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