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This case delves into the turbulent journey of Go First, a low-cost carrier that was once India's fourth largest airline in 2022. Having declared bankruptcy on 2nd May 2022, its CEO, Mr Kaushik Khona, remained confident in its potential resurgence. However, within this aggressively competitive landscape of the world's fastest-growing economy, statistics showed an alarming trend: nearly one airline annually ceased operations since the inception of private investment. Notably, Jet Airways, one of the country's oldest private airlines, had succumbed to bankruptcy in 2019, never taking to the skies again despite several revival attempts. This case prompts the questions: Would Go First's fate echo that of Jet Airways and others? Or might there be a path for it to revive and reclaim its lost glory?