New Delhi, Jan. 20 -- The National Company Law Tribunal (NCLT) has ordered the liquidation of Go First, marking the end of 20 months of insolvency proceedings for the struggling budget airline.

Go First, which filed for bankruptcy in May 2023, had a 6.9% market share in India's aviation sector at the time. However, the airline's assets were effectively wiped out after the Delhi High Court allowed lessors to repossess its fleet of 54 planes.

While GoFirst is the second major airline to get grounded in the last 6 years, along with Jet Airways, there is likely no major impact on sentiments for the sector. India's aviation growth story remains intact on the back of robust domestic demand and expansion by players like Air India, Indigo, and ...