Airbus India Chief Describes Insolvency Filing as ‘Depressing’ in Booming Indian Market Amid Go First Crisis

In a recent statement, the President and Managing Director of Airbus India and South Asia, Remi Maillard, expressed his concerns about the insolvency filing within the growing Indian market. While not directly mentioning Go First, Maillard referred to a leading airline filing for insolvency as a “depressing” development during a time when the Indian market is expanding.

Maillard also emphasized the issue of the engine supply chain as a major concern for airlines and countries. The President and Managing Director of Airbus India and South Asia, Remi Maillard, highlighted the complexities of the global aviation industry’s environment and its ongoing impact on supply chain issues. He emphasized that Indian airline operators, as they concentrate on expanding their fleets for the long-haul market, face these challenges.

With regard to the Go First insolvency proceedings, Airbus expressed concerns from lessors and called for the Indian government to expedite the alignment of domestic laws with international conventions and treaties. The industry sees this alignment as crucial for instilling confidence in the market for lessors.

During an event held for the upcoming ‘Wings India 2024’ conference, Maillard acknowledged that India remains one of the world’s fastest-growing aviation markets. However, he noted that Indian airlines are operating on “fragile margins,” indicating the challenges they face in maintaining profitability.

GoFirst, which suspended its operations from May 3 and extended the suspension until May 26, is currently involved in an insolvency battle before the NCLAT court. The airline’s situation serves as an example of the difficulties faced by the aviation industry in India and highlights the need for measures to ensure stability and growth in the market.

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