SpiceJet chief Ajay Singh said this is an opportunity to emerge stronger. (File)
The failure of Go First Airlines is extremely unfortunate, Ajay Singh, Chairman and Managing Director, SpiceJet Airlines, said on Thursday.
On being asked why fares were going up in sectors Go First was flying, the SpiceJet Airlines CMD said that it is a temporary phenomenon.
"It happens when there is a mismatch of supply and demand affairs. Prices will go up but it settles quite nicely. It has been seen the last time when an airline went down, there was a temporary period of mismatch and then, capacity came into the system and fares were back to normal," Ajay Singh said during an interaction with media at the India Tourism Conference 2023, organised by ASSOCHAM in New Delhi, on Thursday. The CMD is also the president of the industry body.
He called the Go First bankruptcy an extremely unfortunate thing that happened to the industry.
"It's of course extremely unfortunate, but hopefully Go Air can use this opportunity to resolve their issues and the sector at large can use this opportunity to resolve their issues and emerge even stronger," he said.
A day after Go First grounded its entire fleet, SpiceJet announced its plans to revive 25 grounded aircraft.
Mr Singh said that during the COVID-19 pandemic, several of their aircraft had gone down. And with this increase in demand, they want to revive all those aircraft. "And, there are so many small stations that have been left unconnected or less connected as a consequence of the problems that occurred," he said.
"We hope to bring back all those flights and increase frequency to several distributions," he added.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)