The cash-strapped carrier, India's third-biggest and best known as Go First, filed for bankruptcy on Tuesday, blaming "faulty" Pratt & Whitney (P&W) engines for the grounding of about half its fleet.
IndiGo has also had to ground planes because its P&W engines faced problems, but its bigger fleet with diverse engines, and its deeper pockets, meant it could overcome the troubles better than Go First.
The airline started operations in 2005 and is owned by bed sheets-to-biscuits Wadia Group, one of India's oldest conglomerates.
"The Wadia Group, in particular (chairperson) Nusli Wadia, has always tried to see that the company and the airline operations go on, on a normal basis," Khona said.
"There is no question of Wadia Group having any intention to exit or move out."