New Delhi: Beleaguered airline, GoFirst announced further suspension of all flight operations till 12 June, citing operational reasons.
The airline, in its official notification, said that passengers who have already booked their flights will be refunded soon through their original mode of payment.
Official statement of the airline:
Due to operational reasons, GoFirst flights are canceled till 12 June 2023. We apologize for the inconvenience caused and request customers to travel https://t.co/FdMt1cRR4b for more information. For any questions or concerns, please feel free to contact us. pic.twitter.com/ikPCTIewxs
– Go First (@GoFirstairways) June 8, 2023
“We acknowledge that flight cancellations may disrupt your travel plans and we are committed to provide all possible assistance,” the cash-strapped airline said in the statement.
The Wadia Group’s airline GoFirst is currently going through a financial crisis due to the Corporate Insolvency Resolution Process (CIRP). Go Airlines recently presented its six-month revival plan to the Directorate General of Civil Aviation (DGCA).
Earlier, the National Company Law Tribunal (NCLT) had directed the airline’s insolvency resolution professional (IRP) to file a reply within a week on petitions filed by three lessors, seeking Wadia’s request to retain the planes as well as the engines. The demand was made. Group.
GoFirst Airline is planning to restart its operations with its fleet of 26 operational aircraft and 400 pilots.
go first bankruptcy
Go First Airlines had to register for bankruptcy after its flight operations were disrupted by faulty engines, which the company received from engine manufacturer, Pratt & Whitney.
In addition, the lessors began demanding the return of aircraft from GoFirst Airline to recoup their losses. However, the NCLT provided protection to the airline under the prohibition of its lessors.
Protection by NCLT
NCLT said in its decision, ‘We accept the petition of Go Airlines for insolvency proceedings.’
The decision helped the company and saved it from becoming an unviable airline. On the other hand, bankruptcy protection would help the airline to renegotiate contracts and debts.