News
Wadia Group denies reports of Go First sell down
April 21st 2023
Wadia Group, the parent company of India-based Go First, has denied rumours it is looking to offload all or part of its holding in the LCC. Read More » “We have no plans to shed our stake or exit the aviation business. Our promoters are committed to the business and are infusing more funds into it in the form of equity,” an unnamed Wadia Group spokesperson told the ANI news agency. Loss-making Go First has endured significant disruption to its operations in recent times, notably the grounding of aircraft following issues with Pratt & Whitney engines. Tthe LCC is scheduled to receive a capital injection of 6 billion rupee (US$73 million) – 3 billion rupee in equity from Wadia Group and a 3 billion rupee bank loan – in the next few weeks.
