Go First Airlines on Tuesday announced that its flight operations will remain cancelled from May 3 to May 5 adding that a full refund will be issued to the passengers.
A source at P&W told ANI that the budget airline has a lengthy history of missing its financial obligations to Pratt & Whitney.
Union Home Minister Amit Shah on Tuesday strongly hit out at Congress and alleged that fighting the elections by depending on leaders who joined their party after leaving BJP goes on to show "bankruptcy" of Congress.
Owner of Twitter Elon Musk opened up on the status of the social media platform saying it has saved from bankruptcy and is now in for a breakeven.
The Supreme Court on Friday noted that freebies announced by political parties may push the state towards imminent bankruptcy.
The winner will take charge of a bankrupt nation that is in talks with the IMF for a bailout, with its 22 million people enduring severe shortages of food, fuel and medicines.
The airline said the move is "to allow the company to successfully restructure and reorganise its finances to navigate the Covid-19 crisis and emerge as a leaner and better-capitalised airline", reports Xinhua news agency.
Regulations require the interim resolution professional to offer a choice of three Insolvency Professionals (IP) in the public announcement, and the creditors in a class to choose one of them to act as their authorised representative.
A consortium of Indian public sector banks led by the State Bank of India had sought a bankruptcy order against Vijay Mallya as part of efforts to recoup around GBP 1.145 billion of unpaid loans from him.