Go First Extends Flight Cancellations until June 25 for Operational Reasons
Budget airline Go First has announced the extension of flight cancellations until June 25, citing operational reasons. This decision comes after the airline had previously canceled flights until June 16.
In a tweet, Go First apologized for the inconvenience caused to passengers and provided a link for more information. The airline assured customers that it is actively working on resolving the operational challenges and aims to resume normal operations soon. For any queries or concerns, passengers were encouraged to contact customer support.
The company has taken steps to address its ongoing issues by filing an application for immediate resolution and revival of operations. Additionally, Go First has been actively seeking a strategic investor to help stabilize its financial situation.
The airline has faced significant setbacks due to the grounding of more than half of its fleet, primarily due to recurring issues and a lack of engine supply from Pratt & Whitney. As of March 31, Go First had 30 aircraft grounded, including nine for which lease payments are overdue. The airline’s fleet consists of a total of 61 aircraft, comprising 56 A320neos and five A320ceos.
The cancellation of flights has had a severe impact on Go First’s cash flow, as it operated on a cash-and-carry mode, requiring daily payments for the flights it intended to operate. The loss of passenger revenue further exacerbated the financial strain on the airline. Despite the current high airfares and increased travel demand following the pandemic, Go First reported a net loss of $218 million in FY22, double the previous year’s loss of $105 million, according to regulatory filings.
Go First’s market share has also dwindled since July 2022 when it initially faced aircraft groundings. The airline’s market share dropped to 8 percent in February, carrying 963,000 passengers, compared to its peak of 11.1 percent when it transported 1.27 million passengers in May 2022.
The troubled airline remains committed to resolving its operational challenges and looks forward to resuming normal flight operations soon.
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