Exclusive: India's Go First owner has no plans to exit airline, CEO says
NEW DELHI, May 3 (Reuters) - India's Wadia Group, the owner of cash-strapped Go Airlines (India) Ltd, is completely committed to the company, and has no plans to exit it, the airline's chief executive said on Wednesday.
The news came a day after the airline, recently rebranded as Go First, filed for bankruptcy, blaming "faulty" Pratt & Whitney (P&W) engines for the grounding of about half its fleet.
The insolvency proceedings were aimed at reviving the airline and not selling it, Chief Executive Kaushik Khona told Reuters in an interview, adding that the company had made all payments to Pratt & Whitney.
