Go First Extends Cancellation of Scheduled Flights until July 6th
Go First, the cash-strapped airline currently undergoing insolvency resolution, has announced the extension of the cancellation of its scheduled flights until July 6. This comes as the airline has faced financial difficulties, leading to a suspension of operations since May 3. According to PTI, Go First has had to repeatedly extend flight cancellations due to its ongoing restructuring process.
In a recent development, senior representatives from Go First’s management engaged in discussions with officials from the Directorate General of Civil Aviation (DGCA) regarding the airline’s revival plan. Following these discussions, Go First took to Twitter to announce the cancellation of flights scheduled until July 6, 2023, citing operational reasons.
Go First Extends Flight Cancellation
The airline has taken proactive measures to address its financial situation and has filed an application for immediate resolution and revival of its operations. Go First remains optimistic about the future and assured its customers that booking services will resume shortly.
To facilitate the revival plan, Go First has submitted relevant documents to the DGCA for examination. In addition, the DGCA plans to conduct an audit of the airline’s operational preparedness before granting permission to restart operations. This step aims to ensure that Go First meets the necessary safety and regulatory requirements.
The revival process gained momentum with the establishment of Go First’s Committee of Creditors (CoC) on June 10. The CoC consists of prominent financial institutions such as the Bank of Baroda, the Central Bank of India, IDBI Bank, and Deutsche Bank. These lenders have pledged interim funding of approximately Rs 450 crore to support the airline’s operations. It is estimated that the daily operations of Go First cost around Rs 10 crore, providing insight into the financial considerations involved.
As Go First continues its efforts to overcome its financial challenges, stakeholders, including passengers and employees, eagerly await positive outcomes from the revival plan. The airline remains committed to fulfilling its obligations and striving for a successful resolution process that will allow it to resume normal operations and regain stability in the aviation industry.
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