Cash-strapped airline Go first announced that the suspension on all its flights is not going to get lifted until May 30. On May 2, the airline announced the suspension of its flights, initially for two days, and filed for involuntary insolvency. A full refund in full would soon be issued, according to the airline company, formerly known as Go Air.
The airline made the announcement on Twitter along with which it articulated a text that read, “Due to operational reasons, Go First flights until 30th May 2023 are cancelled. We apologise for the inconvenience caused.” It further requested customers to visit https://shorturl.at/jlrEZ for more information. and urged people to contact them for any queries or concerns.
Take a look: https://twitter.com/GoFirstairways/status/1662170019030261760?s=20
The announcement from Go First comes after the aviation watchdog DGCA notified the cash-strapped airline that it had 30 days to submit a detailed plan for the revival of its operations, including information about the availability of operational aircraft and pilots. Go First cited operational concerns while cancelling the flights. It said in the announcement, “We regret to inform you that due to operational reasons, Go First flights scheduled till 28th May 2023 have been cancelled. We apologize for the inconvenience caused by the flight cancellations. A full refund will be issued to the original mode of payment shortly.” Following this the corporation mentioned that they will resume bookings shortly.
The no-frills airline ceased operations on May 3, and lessors are attempting to reclaim the aircraft they had leased to the airline. The airline is currently going through a voluntary insolvency resolution process. Reportedly, the Directorate General of Civil Aviation (DGCA) had advised Go First to submit a thorough restructuring plan in order to sustainably resume operations.
Go First has been asked to provide information regarding, among other things, the status of the availability of the fleet of operational aircraft, pilots, and other personnel, maintenance plans, funding and working capital, and agreements with lessors and vendors.
The watchdog would review the revival plan after Go First had submitted it to determine the next course of action. Go First announced on May 2 that it had filed a voluntary petition for insolvency resolution and that flights would be suspended, initially for two days on May 3 and 4.
The NCLT’s choice to accept Go First’s request for voluntary insolvency resolution proceedings was upheld by the National Company Law Appellate Tribunal (NCLAT) on May 22.
The decision was made in response to petitions filed by four lessors who were opposed to the airline’s insolvency resolution process.
