DGCA to Review Documents and Conduct Audit before Restarting Operations: Go First Revival Plan
The aviation regulator, the Directorate General of Civil Aviation (DGCA), will examine the documents submitted by Go First, the budget carrier currently undergoing voluntary insolvency resolution proceedings, as part of its revival plan. Sources indicate that the DGCA will also conduct an audit to assess the airline’s operational preparedness before granting permission for Go First to restart operations. Representatives of Go First’s current management met with DGCA officials in the national capital on Wednesday to discuss various aspects of the revival plan.
Go First and DGCA
The airline’s Resolution Professional, Shailendra Ajmera, and Interim CEO, Kaushik Khona, provided a detailed presentation on the revival plan to the DGCA officials, according to insider information. After completing its scrutiny of the submitted documents, the DGCA will carry out an audit to evaluate the airline’s operational readiness. It is expected that the audit will take place next week, as stated by one of the sources.
Before the grounding, Go First operated flights to and from 29 domestic destinations. However, The second source has indicated that the revival plan will reduce the number of destinations to 23. The source further revealed that the airline will not initially operate flights from Jaipur, Lucknow, Kannur, Patna, Varanasi, and Ranchi once it resumes operations.
Lenders have committed interim funding of approximately Rs 450 crore, considering that a single day’s operations are estimated to cost around Rs 10 crore, according to the source. Moreover, the airline reportedly has sufficient manpower, including approximately 300 pilots.
The revival process gained momentum following the formation of Go First’s Committee of Creditors (CoC) on June 10. The CoC comprises the Bank of Baroda, Central Bank of India, IDBI Bank, and Deutsche Bank.
As the DGCA reviews the documents submitted by Go First and conducts an audit to assess operational preparedness, the airline remains hopeful of receiving approval to restart its operations in the near future.
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