Mumbai-based Airworks Aviation has emerged victorious from GoFirst’s blockbuster liquidation auction, scooping up 25 grounded A320 aircraft for a whopping ₹1,200 crore in a deal that could revive India’s most notorious aviation carcass. The low-cost carrier’s collapse left 54 Airbus narrowbodies rusting across India, and Airworks just claimed the biggest chunk.
The auction frenzy peaked Tuesday when Airworks outbid rivals for the prime A320 batch – most equipped with problematic Pratt & Whitney GTF engines that grounded GoFirst in the first place. These jets sat idle at Delhi, Mumbai, and Kannur airports since May 2023, costing lenders ₹3,900 crore in mounting dues. Airworks plans aggressive maintenance to return them to service by Q3 2026, targeting lease deals with IndiGo and Akasa Air desperate for capacity.
GoFirst’s carcass attracted vultures from every corner of aviation. Sharjah-based Lessor NS Aviation grabbed 10 A320neos for $15 million each, while Mumbai’s Oasis Aviation took slots and real estate worth ₹900 crore. The real prize? Airworks’ 25-aircraft haul represents 46% of GoFirst’s fleet – enough capacity to launch a new regional carrier or feed India’s MRO boom amid Boeing 737 and A320neo shortages.
Lenders breathed relief as the auction recoups 30% of dues, but questions linger over the GTF engines’ viability. Airworks confirmed “comprehensive shop visits” at their Nagpur facility, betting big on Sustainable Aviation Fuel conversions to attract ESG-focused lessors. The deal signals India’s MRO sector finally stepping up – Airworks joins TASL and GMR Aero as national champions servicing foreign fleets.
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