Go First to get Rs 210 crore under govt's credit line guarantee scheme: CEO - Times of India
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MUMBAI: Wadia group-owned Go First expects to receive Rs 210 crore under the government's credit line guarantee scheme next month as the budget airline seeks to boost its financial position and expand operations. The airline, which received Rs 210 crore from the promoters last month, aims to have 53 operational aircraft in its fleet by the start of April this year, its CEO Kaushik Khona told PTI. The airline currently has 37 aircraft in operation. Apart from the coronavirus pandemic headwinds and intense competition, the no-frills airline is grappling with the Pratt & Whitney engine issues that have forced it to ground many planes due to a shortage of spare engines. Under the Emergency Credit Line Guarantee Scheme (ECLGS), which has come as a relief for many pandemic-hit sectors, Go First has so far availed Rs 600 crore. With promoters' infusing Rs 210 crore, the airline will be able to get an equal amount under the ECLGS next month, Khona said. In an inter...