Owners of Go First plan to exit the loss making airline

The owners of Go First, India’s budget carrier have begun talks with strategic partners to either sell a stake in the airline to completely exit the airline business, according to a report by Economic Times. The airline reported its first annual financial loss till date in FY22. In FY23 the airline took two loans worth INR 2.03 bn under the Indian Government’s Emergency Credit Line Guarantee Scheme to deal with its cash crunch. Apart from the financial crisis, the airline is also undergoing operational issues with majority of its fleet grounded due to engine issues and lack of spare from