American aircraft manufacturer Boeing has said that the Go First insolvency process is a sad incident for all the parties involved — be it the airline or the lessors. Salil Gupte, the President of Boeing India, also told CNBC-TV18’s Shivani Bazaz that they do not have any visibility of the Jet Airways comeback yet.
Gupte said, “We are all aware of the NCLT insolvency filing (by Go First). That's always sad for the airline, for the employees, for all of the stakeholders, and of course, for the creditors and for the lessor as who have continued to work with them. The reality is that progress is never a straight line. The trend line macro for India is continued growth and we have yet to see what will happen with (Go First).”
“They have targeted coming back at some point into operation. And it's too early to see to say how all of that is going to play out. But what everyone is focused on is trying to make sure that this market is liquid in terms of how assets are handled, aeroplane assets in this market, because that's going to drive the best cost structure for the airline customers,” he added.
Looking towards the future, Gupte expressed his hope that Jet Airways, which is currently grounded, will be a Boeing customer once again. Boeing India is currently in talks with Jet Airways on meeting their needs, but unfortunately, they do not have visibility on when Jet Airways will make a comeback.
He said, “Of course Jet Airways was a Boeing customer previously to its filing a few years ago, and we hope it will be a Boeing customer in the future. We are of course always talking to all of our customers including Jet about how we can we can meet their needs as they go forward. In terms of the timing of their operation and their comeback, we really don't have any better perspective than you would.”
12/05/2023 Shivani Bazaz/CNBC TV18
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