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BENGALURU: Go Airlines (India) Ltd owner Wadia Group is completely committed to the airline and had no plans to exit it, the airline's chief executive told Reuters in an interview on Wednesday. His comments came a day after the cash-strapped Indian airline filed for bankruptcy, blaming "faulty" Pratt & Whitney (P&W) engines for the grounding of about half its fleet. The insolvency proceedings were aimed at reviving the airline and not selling it, CEO Kaushik Khona said, confirming it had made all required payments to Pratt & Whitney. The airline was also looking to dissuade lessors from taking action. “The Indian government is very keen we should not fail,” Khona told Reuters. The company, which is “continuously evaluating options”, said some parties have expressed interest in the airline. It did not share further details. Go First’s lenders will most likely meet on Wednesday to discuss what to do next after the bankruptcy filing on Tuesday, two bankers aware of the development told Reuters. The airline owed financial creditors 65.21 billion Indian rupees ($797 million), its bankruptcy filing showed. As of April 30, Go First had not defaulted on any of those loans, it said in the filing seen by Reuters. Boon for rivals Go First's bankruptcy may boost airfares in India and give other domestic airlines a chance to grab a larger chunk of the market share, analysts said. Share prices of India's largest airline, IndiGo, were up 5.1% on Wednesday, after rising as much as 8.2% ea...

NEW DELHI, May 3 (Reuters) - India's Wadia Group, the owner of cash-strapped Go Airlines (India) Ltd, is completely committed to the company, and has no plans to exit it, the airline's chief executive said on Wednesday. The news came a day after the airline, recently rebranded as Go First, The insolvency proceedings were aimed at reviving the airline and not selling it, Chief Executive Kaushik Khona told Reuters in an interview, adding that the company had made all payments to Pratt & Whitney. The airline was also looking to engage with lessors to dissuade them from taking any action, he added. The first major airline collapse in India since that of Jet Airways in 2019 underscores the fierce competition in a sector dominated by IndiGo and the recent merger of Air India and Vistara under the Tata conglomerate.