Go First Extends Flight Cancellations Till June 28 Due To ‘Operational Reasons’
Go First has further extended the cancellation of its scheduled flight operations until June 28 due to operational reasons. The airline ceased operations on May 3.
Crisis-hit airline Go First has extended the cancellation of its scheduled flight operations until June 28 due to operational reasons. Earlier, the airline had announced the flight cancellation until June 25. The Wadia Group-owned airline, which ceased operations on May 3, is reportedly facing challenges in paying senior-level executives and pilots. The grounding of Go First flights has reportedly influenced airfares, particularly on routes where the airline had a significant presence.
"Due to operational reasons, Go First flights until 28th June 2023 are cancelled. We apologise for the inconvenience caused and request customers to visit shorturl.at/jlrEZ for more information. For any queries or concerns, please feel free to contact us," the airline said in a tweet.
Due to operational reasons, Go First flights until 28th June 2023 are cancelled. We apologise for the inconvenience caused and request customers to visit https://t.co/FdMt1cRjeD for more information. For any queries or concerns, please feel free to contact us. pic.twitter.com/rMAXsuiEjj
— GO FIRST (@GoFirstairways) June 24, 2023
On Saturday, the Economic Times reported that Shailendra Ajmera, the resolution professional of Go First, has requested Rs 425 crore in interim finance from the airline's financiers to initiate a revival plan aimed at resuming operations. The financing requirement may increase depending on factors such as the availability of operational aircraft engines and ticket cancellations, the report said citing sources.
Also Read: Bankrupt Go First Seeks Up To $122 Million In Additional Funds: Report
It was earlier reported that Go First requested additional funds during a lenders' meeting on Wednesday. The airline is said to be seeking between Rs 4 billion and Rs 6 billion ($122 million) in extra funding. Lenders are expected to review the proposals within the next 48 hours.
The National Company Law Tribunal (NCLT) accepted Go First's insolvency petition on May 10.
As per reports, the airline's outstanding dues to banks and financial institutions are estimated to be around Rs 6,000 crore. Go First said in its application to the NCLT that it had defaulted on payments of Rs 2,600 crore to aircraft lessors and Rs 1,200 crore to vendors. The company attributed its insolvency filing to the grounding of several aircraft due to defective engines supplied by US-based aerospace manufacturer Pratt and Whitney.
It was reported that Go First aims to commence operations with 26 aircraft and 152 daily flights. The airline has already submitted its revival plan to the Directorate General of Civil Aviation (DGCA).
While the airline had approximately 5,000 employees a month ago, as per a MoneyControl report it currently has around 4,700 individuals on its payroll.
Top Headlines
