Adani Enterp. 1911.25↑72.25(3.93%)
Adani Ports 679.75↑10.10(1.51%)
Apollo Hospitals 4553.20↑37.75(0.84%)
Asian Paints 2982.85↑53.15(1.81%)
Axis Bank 865.95↑6.10(0.71%)
B P C L 368.35↑7.55(2.09%)
Bajaj Auto 4457.70↑9.85(0.22%)
Bajaj Finance 6390.25↑210.00(3.40%)
Bajaj Finserv 1374.45↑27.45(2.04%)
Bharti Airtel 789.10↑9.80(1.26%)
Britannia Inds. 4587.05↑59.95(1.32%)
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Coal India 237.45↑0.55(0.23%)
Divi's Lab. 3282.55↑13.80(0.42%)
Dr Reddy's Labs 4968.00↑15.75(0.32%)
Eicher Motors 3339.30↓-9.05(-0.27%)
Grasim Inds 1759.85↑23.95(1.38%)
H D F C 2862.05↑74.30(2.67%)
HCL Technologies 1066.80↑7.85(0.74%)
HDFC Bank 1727.80↑34.65(2.05%)
HDFC Life Insur. 546.50↑7.80(1.45%)
Hero Motocorp 2514.50↑11.85(0.47%)
Hind. Unilever 2506.75↑20.75(0.83%)
Hindalco Inds. 445.50↑3.20(0.72%)
ICICI Bank 921.70↓-1.15(-0.12%)
IndusInd Bank 1134.60↓-11.55(-1.01%)
Infosys 1273.55↑4.40(0.35%)
ITC 424.60↓-2.55(-0.60%)
JSW Steel 738.70↑6.25(0.85%)
Kotak Mah. Bank 1947.60↑16.65(0.86%)
Larsen & Toubro 2356.90↑0.60(0.03%)
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Maruti Suzuki 8800.60↑3.30(0.04%)
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NTPC 176.35↓0.00(0.00%)
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Power Grid Corpn 238.85↓-0.85(-0.35%)
Reliance Industr 2448.00↑27.90(1.15%)
SBI Life Insuran 1167.45↑30.55(2.69%)
St Bk of India 580.00↑9.50(1.67%)
Sun Pharma.Inds. 974.00↑10.40(1.08%)
Tata Consumer 775.50↓-5.90(-0.76%)
Tata Motors 480.80↓-2.90(-0.60%)
Tata Steel 111.05↑1.35(1.23%)
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Tech Mahindra 1045.45↑5.85(0.56%)
Titan Company 2670.40↑16.35(0.62%)
UltraTech Cem. 7502.25↓-4.95(-0.07%)
UPL 731.50↓-8.30(-1.12%)
Wipro 383.70↓-1.40(-0.36%)

Go First insolvency will impact investor confidence: SpiceJet's Ajay Singh

'The factors behind the Go First crisis were beyond its control'

Arup Roychoudhury Nikesh Singh New Delhi

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Ajay Singh | Photo: Bloomberg

4 min read Last Updated : May 04 2023 | 7:03 PM IST

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Go First’s decision to file for bankruptcy proceedings has again highlighted the need for reforms in the sector, including bringing aviation turbine fuel (ATF) under the goods and services tax (GST), says SpiceJet Chairman and Managing Director and President of the Associated Chambers of Commerce and Industry of India (ASSOCHAM), Ajay Singh. In an interview with Nikesh Singh and Arup Roychoudhury, Singh says SpiceJet had no issues with hardware suppliers, and it used funds under the Emergency Credit Line Guarantee Scheme (ECLGS) to bring 25 planes back into operational service. Edited excerpts:

What are your thoughts on Go First’s insolvency plea?

The factors behind the Go First crisis were beyond its control, which it enumerated in the press release. We hope that it can go through this resolution process and bounce back strongly.