GoAir faces liquidation as Nishant Pitti withdraws revival bid

GoAir, which ceased operations in May 2023, faces likely liquidation as key bidder Nishant Pitti withdrew his revival bid. The Delhi High Court allowed lessors to repossess GoAir’s 54 aircraft, signaling the end for the airline. 

The Centre may now redistribute GoAir's slots and foreign bilateral rights to other airlines like Air India, IndiGo, and Akasa, potentially increasing flights and lowering fares on high-demand routes. GoAir had held onto assets under a moratorium provided by the Insolvency and Bankruptcy Code. 

The airline owed over Rs 11,000 crore when it shut down and had filed an ongoing Rs 8,000-crore damages case against Pratt & Whitney for engine issues.