How a giant US corporation bankrupted GoAir
ฝัง
- เผยแพร่เมื่อ 6 ก.ค. 2023
- Behind the scenes story of how the faulty engines of world's biggest manufacturer crushed India's GoFirst airline.
#goair #gofirst #indianaviation #raytheon
Sources
Economic Times
To Take Off, Go Air Must Get Relief from Singapore Court; Joel Rebello & Arindam Majumder; July 4, 2023
Wadia Co May Take Centre Stage asGo First’s Bankers Face Off; May 31, 2023
Big 4 auditors eye Go First’s resolution professional job; Mohit Bhalla; May 24, 2023
Go’s suspended board files caveats against lessors; May 24, 2023
Jeh Wadia No Longer on GoAir Board; May 16, 2021
GoAir Charting A New Course; Anirban Chowdhury & Mihir Mishra; May 8, 2021
Mint
Go First may return to skies with CFM-powered A320s; Anu Sharma & Mihir Mishra; July 4, 2023
‘Airlines still emerging from the blow of covid pandemic’; Anu Sharma; June 27, 2023
Wadias to sue PW: Anu Sharma & Mihir Mishra; June 20, 2023
Why Nusli Wadia’s sons couldn’t save Go First; Mihir Mishra & Varun Sood; May 26, 2023
Jeh Wadia leaves boards of Bombay Burmah, Britannia; Varun Sood; Aug 25, 2021
Business Standard
Battle for skies: Tatas kick-start Air India fleet expansion via leasing; Deepak Patel & Aneesh Phadnis; Sep 12 2022
Business Today
How GoAir managed to stay profitable when most rivals lost money; Manu Kaushik; Jan 10, 2015
Zee News
Go First Crisis Explained: Here's How The Airline Became 11th Carrier To Fail In A Decade; May 21, 2023
BBC News
Go First: What went wrong with the Indian airline? Archana Shukla; May 5, 2023
The Week
Tricky embrace; Sanjib KR Baruah; June 25, 2023
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I did a year long internship with Air India at their Old Airport, Mumbai based MRO (Maintenance Repair and Overhaul) base, this was one of its kind and the largest MRO facility on planet, spanning more than 1500 acres near airport in Mumbai. Within MRO we had EOD (Engine Overhaul Division) where we used to receive engines from other airlines who did not have such technical capabilities. P&W was a usual suspect when it comes frequent breakdowns, GE engines were the most reliable and far superior compared to P&W and RR (Rolls Royce), GE was the only company at that time to provide engines to Boeing 777ER which was newly launched state of the art flying machine onto which I got a chance to work on. P&W is #2 when it comes to global market share, they have mammoth presence in US military industrial complex than in civil aviation, its exactly opposite for GE. P&W is the main engine manufacturer for F-35 jet which has ran into so many technical issues related exclusively to the engine. Thanks to their political connections and lobbying in US congress P&W always get away without a scratch even in this US court proceedings they would come out unharmed.
P&W is just a marketing gimmick.
Go is also getting away with a lot because of the lobbying with the govt.
@@earth2k66 No its not, P&W has brilliant legacy that's why they survived in the industry for so long. They have built exceptionally brilliant engines for legendary military jets like F-16/15 and stealth F-117, C-17 globemaster and F-22 raptor. Every big company goes through bad phase even Boeing got into trouble with their 737 passenger aircraft not too long ago.
@@Einstein9433 Lols, what's the point in making hue n cry about pvt entity lobbying gov in this filthy third world country ? we all know Vijay Mallya owned Kingfisher defaulted in some 9000 crore loan and poor guy had to flee the country but how many of you know that our own gov owned (not anymore in 2023) Air India (AI) had more than 61000 crore loan ?? before Tata could take over AI they asked gov to settle the dues guess what the gov used tax payers money to wipe out AI's balance sheet and handed it over to Tatas, BTW it was Tatas who founded AI but as Indian opted suicidal path of socialism after 1947 gov forced Tata to hand over AI to gov and literally screwed it over the time period. You won't realize whom gov used appoint to run AI, take a wild guess.......it was a brainwashed IAS guy, yup you heard it right, MD of AI used to be an officer from IAS cadre who has no freaking clue on how TF aviation industry works let alone running massive airline in highly competitive market.
@@bindaasmard664 As if Apple fanboys were not enough, these days we got fanboys of P&W.
What a great to be alive.
Amazingly Air India did not go for pratt and Whitney engines despite the cost efficiency they did not opt for their engine that's quite remarkable. How india operates now has changed alot. Kudos
which engine did they go for?
@@sagardesai15may GE and RR
Running business is very hard and many times businessmen are not at complete fault but market & circumstances handicap them. Go Air is the prime example. Hope they will revive soon.
@kuchbhikahinbhi712 I don't blame go first considering their small operations... But its a famous saying that "never keep all your eggs in 1 basket"... Indigo followed that strategy by using 4 different types of engines from 3 different companies so they don't face this exact scenario
@@Thorium1996 yes agree
Ex Go Air staffer here. Keep in mind that the employees haven't received their May month salaries yet - we're in the middle of July now. The management isn't giving any information about their plans going forward, it's just hearsay the employees have to go by. Those who are wanting to abandon ship too aren't being let go. Managers wanting to be in the good books of the management, in the hopes of paybacks in the future, are choking the future of the employees. It is indeed a very dire situation for it's 5000 odd employees.
That's a very sad plight, indeed. Hope things get sort out for the staffers.
@@BisboWorld would also like you to focus on videos related to governance, updates with respect to present development scenario, and project stats for promises made and actual achievable. Thanks!
I hope you got your salary
Some fact checks required here.
There was a general problem in Go Airlines regarding finances. It was not their first default of a payment and allegations of malfeasance in funding. The airline never paid its staff on time either. The company already and always had the culture of default.
P&W despite the hole that it is, they did make a claim submission that Go Airlines was not regular in payment post deliveries - that was a reason the court was not keen on the damages ruling. Go Air had the history of payment's default.
Also, one of SEBI's primary objections to the listing was due to the fact that the company had changed its name right before the lead up to IPO. That spelled an immediate disaster for go's credibility with vendors.
Go had also enough time in diversifying the engine portfolio. The CFM LEAP engine as you said is by no means conventional engine, in fact Safran did consider the possibility of an additional reduction gear stage but shelved the proposal. Instead they continued with a lower by-pass engine but better materials, faster engine spool up and reliability, to compensate. That is exactly why the Air India order book had place 0 orders to P&W engines. Pratt & Whitney had already been kicked out of the widebody market by 2010 for the very same reason. They are just not a reliable company, and Go promoters knew this. They still went for the engines because, you know, misplaced priorities. The reason the Senior Wadia had their own son ousted is for a very strong reason. No smoke without fire.
Great write-up. Looks like @bisbo have not their homework right. It is interesting how these channels with huge subscriber base can mislead people with "one side of the coin" stories.
Granted that P&W is a part villain. But GoAir should have done their research before foolishly placing such a giant order to fit ALL their planes with just one supplier. The word that GoAit should learn from others is Diversification. Such a small, but effective strategy.
Company is right and Pratt and Whitney is liable for damages
LoL ..good luck 😂..
Absolutely yes
Pratt and Whitney should be blacklisted by India. What a crappy engineering they did.
@@nitinbansal1631 LoL 🤣 remember odisha train wreck .
🫡 Thank you very much your honor. This was all that was awaited
Surprised that P&W is so relaxed about the matter. Haven't heard of anything that's done by either the US or IN govt to pressurise them or compensate!
Indian govt has a lot of corruption in it .if they sue Pand W all their fraud details will come out . Just like how adani shut up when hindenberg said they were ready for a lawsuit 😂😂😂 funny hindua
1:55 In 2016, Go First signed an order for 72 a320neo aircraft taking the total number of orders to 144. I think Bisbo confused number of planes ordered with with fleet size.
and the refund for all the flights that were cancelled hasn't been provided yet. GoFirst is sitting on the millions of Rupees people paid for the flights which never took off. There's no timeline for when we will get our money back even after two months of airline going down. Should have mentioned this in the video too.
They had no money to be sitting on you fool 😂
You should make a video on Jet Airways current situation as well would love to know what’s happening behind the scenes
Interesting. Always had a bad experience with GoAir. Their food was always cold, but that was probably the better end of it. Worse, was booked onto Vistara once but due to change in timings for comnecting flights, I was moved onto a GoAir flight. And that flight was.... troubled to say the least. No air in the cabin, and the plane was taxing around for well over 40 mins before everyone threatened the break the windows, then they let us out. Had they taken off, could've ended up like Helios 522. That wasn't the end though, those bastards didn't even provide us hotels after leaving us stranded overnight. Lowkey happy they're drowning rn 😂
Lol
You should have added that they havent refunded for the cancelled flights too, thats around millions
Yes we should have added that too
I’m so happy to see this airline go to dogs. Worst service bad in-flight experiences, they were rickshaw services than a flight! None of them knew how to behave with their customer! I’m gonna sit back relax with a beer watching this video!
Lmao Indian carriers are terrible (except Jet Airways, they were legendary)
@@cybersentient4758 Vistara too.
Really good case study we must appreciate your creativity while making video animation.
Many many thanks
Very well-explained, and the animation is excellent!
Thank you
Forget blaming Pratt and Whitney, sharing the core reason thst staff were not happy at all . The company never believed in motivating its staff, Crew, Airport, Operations , sales and Marketung are the backbone of any Airline . If these departments are not happy then what will company do with keeping Aircafts at Airport .
Sales and Marketing were treated in a bad manner ..Management claims they had experience, but with Overconfidence in mind, not upgrading on few things . That's the reason Airline went down. Other reasons given are mere excuses to media .
The animation is so good yaar
Thanks 👍
Such companies should face such huge issues, such a fraud and hidden charges in domestic flights
Superbly captured my friend. Well done.
Thanks
Thanks for the quick and effective explanation.
Welcome
Very informative..thank you
You're welcome
Top-notch animation
Awesome!
Fantastic story telling
Many many thanks
Bismillahirrahmanirrahiim. I subscribed and almost every I watch Bisbo's video, no matter I understand the story or not, no matter the case spread to Indonesia, where I live, or not. I just like to listen your voice, the way you telling the story, just like my father or mother, told me stories before I slept, when I was at the age of 1, till 5 years old. I also like your animation. Best regards from Indonesia, South East Asia. Wslm.
Insightful
Great animation
Sad to see one more private airline bite the dust. Pratt & Whitney is mostly responsible for this scenario.
Why did they go all in on one engine provider? Screw them.
The animation is excellent!!
Thank you
Bisbo make detailed video on portuguese inquisition goa
Twinkle twinkle little star, in respect of Case studies this channel is a Superstar....
Thanks
I wish they come back
Nice video..loved it
Thank you 🙏
Simple summary
Its difficult doing business in india
The first few years may be easy .
A regime changes ,the business owners ruffle a few wings in the regime closer to the election,
Sadly the consumer pays then ,now and later .
Hey Ram !!
nice graphics
@bisbo can you make a video on Manipur Issues and the reaction 9f politians pleaseee
Amazing content
Thanks
Got interested when I saw Nusli Wadia name came forward!! Seriously, Business is not for everyone.
no wonder airline seems like a luxurious business but even best of best peeps failed in airline business.
Reminds me of Anand Mahindra answer for starting an airline.
Indigo is smart and clever....
It's 01 Dec 2023. Gofirst didn't fly CEO re-signed .Employees are not paid a salary for 7 months ( 99% left). There is no hope😢
At 1:55 the information shown is incorrect, GoFirst never had a fleet of 144 aircraft.
thats why you dont buy engines from prat and whitney
Please make a video on Manipur roits and France roits
Manipur one will come out sometime
This channel has the ability to attract more audience if video will come in Hindi because this is India where majority likes their regional or local languages
Well it was UTC not raytheon.
Plz make video on France riots in English and Hindi
GoAir pushing to blames on Pratt & Whitney, They already have internal issues, We known about Wadia company how it operates.
lmao, i give you a cake spit by me on your birthday , now will you throw the blame on me or call it your negligence.
We work in Go air didn't recieved our salaries from last 3 months neither our resignation are getting accepted 😢
😰
Then make it accepted by court.
Go Air should have gone directly to US . No point wasting time in singapore
Pratt and Whitney engines are known for unreliability. GE and Rolls Royce engines have better reliability
Indeed - the P&W GTF is even worse than the Trent 1000
This video was very fast . had to pause to read and reverse to hear what was said . Please look into the pace of videos.
Thanks for the feedback. We will look into it.
abey bhai tu sunta dheeme hai. 2x speed normal speed hai iss video ki
As the old saying goes, "To become a millionaire in the civil aviation industry, you must begin with a billion."
Indigo be like: E bhai, majja aaya??? Mai toh challa badi gaddi leke.....
Even the Wadia s are in trouble
This is rather a very linear claim to fault another company for your bankruptcy unless you are a competing company which ofcourse is not case here, and should not be the main reason thou it may be a factor. A company downfall always lies in its inability to foresight and out stragetize leading to losing its maneuverability and direction which often result in hole-up itself against the wall and eventually fail. If you could not diversify your risk or rather put yourself in that situation, its all your fault. Blaming your customer, your partner, your vendor, your competitor etc for your fall is the last thing you should be doing in the Market. Market is cruel and will always weed out those that falters.
goair is one of the worst airline in terms of customer service
their pathetic behavior was revealed during covid
I think the airline should be revived and should operate the remaining Airbus A320s. Infact if Air India express ever plans on buying those planes, it would be fine. Cuz putting them to eat dust is a waste of resource. India needs more planes. Better to use the planes that are grounded.
Rajan Pillai's soul didnt get moksha.
Yes bro, that was a sad episode
Raytheon is not the biggest defense manufacturer, that's Lockheed Martin
Wadias a prodigy of jinna
You meant progeny
soo basically customers wont get cancellation money for tickets 😢
1hr ago 3.9k views
make video of game of thrones going in Maha
My ticket for the cancelled flights are not refunded by the company 😢
Always go with Rolls Royce engines they are expensive but very reliable
why not file a lawsuit against P&W in US courts ?
The Government must step in to penalise and recover damages caused by P&W to Indian aviation industry.
The Wadia's (especially Jeh) lacked the business acumen to foresee the risks of running airlines. What can explain his decision to go with P&W engines to power all his fleet, despite it being an open secret that they were - and still are -the worst reliable engine suppliers. He should have diversified and run the airlines with a modicum of commonsense and professionalism (as hid Dad would say).
Good business don't wait for courts to reimburse you for the damages; with some earthy wisdom and foresight, they pre-empt such crisis !
Go Air - a trash airline complete with trash engines
He kicked son out ...almighty kicked him out ...hence Great airline comes to end
One day you will be definitely trending
Can anyone guide me, how these animations are created?
As I Standalone video creator can I do this too??
Please tell me please
You can learn Adobe animator and after effects softwares
@@BisboWorld thanks for ur reply
👍👍👍
Pratts turned out to be Pratts, it's all in the name, should have gone to RR
They would have gone bankrupt either way
@@rayhans7887 if they had CFM LEAP power, they would definitely have had a good chance to survive. With P&W, they were doomed beyond any reasonable hope of survival.
Go Air is far from the only airline to suffer from P&W's trash engines. For instance, and this is just one example out of many, for a while in May, KLM had to ground a third of their P&W GTF-powered E190-E2 fleet. In fact, the Iraqi civil aviation authority grounded all P&W GTF engines in the country because of the issues on the A220 aircraft operating there. GE for the win!
The headline is misleading! It can say many things, like how Indian laws and security of investors money is fragile and or how the US as a nation played a role in this. Neither are true don’t you think?
Akasa Air gone
Wadia Group, Jinnah Family now getting Karma for playing with their own people.
P&W should be held liable
Make video on atiq Ahmed
It's all Pratt and Whitney's mistake...
If anyone has to be punished it's the engine manufacturer and Go Air to some extent because of their foolish risk of buying same engines for their airlines..
So many PRIVATE Airlines have gone bankrupt in the recent years, which teach us all that airline business is the government's business, if it has to sustain long term, and private sector cannot overcome if huge losses occur.
Why should common men including poor will pay for losses via tax ( indirect taxes too)?
I am Indian Airplane spotter 😊❤😊
I liked bisbooooooos limerickkks
🙏👍
Make video of atiq Ahmed
Running airlines is not easy task in india
2:20 whats 6 9 logic ??? 😆
Lol
Wow so US company can do whatever they want and poor Indian company has no support from anywhere not even from Indian govt 🙁
Singapore arbitration is the worst thing in the world favoring only Americans and Europeans at the cost of Asians. So never hurry to do business thru Singapore. Just skip and make a better trade City in the country itself. Make in India and trade through India. Let the engine makers or airline manufacturers bear the brunt of global customer churns. Also, never put your all eggs in one basket and don't pay a sizeable sum in the beginning as down payment, just demand and do a trading deal negotiation to ensure there is ample delivery in fly away condition with warranty with time based penalties before committing to pay a huge sum in the beginning of the deal.
Indigo > Go First
Make a Video on Atiq Ahmed like you made on Vikas Dubey
It would be amazing to watch
It will come out in August
American beach 🏖️
Please, make this video in Hindi and upload in Bisbo Hindi TH-cam channel.
It will be out soon there as well
Go has never practiced any good corporate ethics. I am sure P and W is not to blame entirely. Go must not have paid PandW.
They deserve it or may be even more worse... For murdering Rajan Pillai and the "shady" take over of britannia biscuits. They even bullied and tried to bring down Ambani at some point. Luckily Dhirubhai survived.
Not researched properly.
2:20 why 69 😂😂
Go first is not refunding money science 3 months what to do
running airline is a serious buisness
The future is Chinese aircraft.. they recently launched their own aircraft 💁🏻♂️
They are boot-legged versions of Russian & US technology, without safety measures. Worst of the worst.