Lufthansa CEO Carsten Spohr said in a statement that eleLufthansa CEO Carsten Spohr said in a statement that elements are missing way down in their supply chains, and companies need to rebuild their production facilities during an earnings call with analysts.
New Delhi: After Go First, one of the leading international airlines Lufthansa temporarily grounded a third of SWISS’ Airbus A220 aircraft at Zurich. The development comes after the management of the airline found some technical problems with Pratt & Whitney engines.
Lufthansa CEO Carsten Spohr said in a statement that elements are missing way down in their supply chains, and companies need to rebuild their production facilities during an earnings call with analysts. He further said that Lufthansa runs 30 A220s under Swiss subsidiary and the leading career grounded 10 aircraft for further assessment.
However, Lufthansa is not the only airline that is facing such engine problems. Lack of spare parts and engines becomes another problem for top airlines globally, especially for their most recent generation of narrowbody aircraft.
Ahead of this, Go First filed for bankruptcy protection, claiming failure of Pratt & Whitney engines as the reason that half of their Airbus fleet are grounded.
Go First has also sought various interim directions from the National Company Law Tribunal, including restraining lessors from taking back aircraft and regulator DGCA from taking any adverse action against the airline.
The Wadia group-owned airline, which has liabilities worth Rs 11,463 crore, has sought voluntary insolvency resolution proceedings and the plea is set to be heard by the Delhi bench of the NCLT on Thursday.
Go First has cancelled all its flights for three days starting from May 3. In its petition filed before NCLT, the budget airline has sought directions to restrain aircraft lessors from taking any recovery action as well as restrain the DGCA and suppliers of essential goods and services from initiating adverse actions.
The airline also wants fuel suppliers to continue supplying for aircraft operations and not terminate the present contractual arrangements.
Go First, which started flying more than 17 years ago, has said the non-supply of engines by Pratt & Whitney resulting in the grounding of more than half of its fleet has led to the current situation. The carrier has total liabilities of Rs 11,463 crore to all creditors, including a default of Rs 3,856 crore towards operational creditors.
