Go First seeks Rs 8,000 cr in compensation to recover losses

In a statement issued by Goa First airline, it has said that in order to recover losses, it has sought compensation of approximately INR 8,000 crores in the SIAC arbitration. If it is successful in the arbitration, it is hoped that, the airline will be able to address the liabilities of its creditors. The statement adds that, however at this stage, in the absence of Pratt & Whitney not providing the required number of spare leased engines in accordance with the order issued by the emergency arbitrator, the airline is no longer in a position to continue to meet its financial obligations.