Go First Cancels All Flights Until July 10

Go First, currently undergoing voluntary insolvency resolution, has cancelled all flights until July 10, 2023, citing operational reasons. The airline acknowledges the disruption caused and assures affected passengers of their assistance. Additionally, lenders have approved interim funding to resume operations, while the promoters indicate no intention to inject further funds.

Go First, the crisis-hit budget carrier currently undergoing voluntary insolvency resolution proceedings, has announced the cancellation of all flights until July 10, 2023, citing operational reasons.

This decision comes shortly after the company initially communicated flight cancellations until July 6.

In a statement, Go First expressed regret for the inconvenience caused by the flight cancellations and acknowledged the disruption it may have caused to passengers’ travel plans. The airline reassured affected customers of their commitment to provide necessary assistance.

The statement also highlighted that Go First had filed an application for immediate resolution and revival of operations, indicating their intent to resume bookings in the near future. The airline expressed gratitude for the patience shown by their customers during this challenging period.

Must Read: Go First Ticket Cancellation Refund Process: A Step-by-Step Guide

Financial Challenges and Interim Funding

Go First, facing financial difficulties, initiated voluntary insolvency resolution proceedings on May 2 due to its inability to operate effectively, primarily attributed to delayed engine deliveries by Pratt & Whitney, the US engine maker.

Since May 3, the airline has been non-operational, and its plea for insolvency resolution was accepted by the National Company Law Tribunal (NCLT) on May 10.


Promoter’s Stance

Meanwhile, reliable banking sources have revealed that lenders to Go First have approved interim funding of 4.50 billion rupees ($54.9 million) to support the resumption of operations and the revival of the airline.

This interim funding, which does not require collateral, will be prioritized as part of the insolvency cost, distinct from other dues owed by the airline. However, the promoters of Go First have indicated their lack of intention to inject additional funds into the airline, according to one of the banking sources.

Revival Plan

It is important to mention here that the airline also recently submitted a comprehensive revival plan to the Directorate General of Civil Aviation (DGCA) with the intention of resuming operations. The proposal includes deploying a fleet of 26 aircraft and operating from 22 airports across India. The DGCA plans to conduct an inspection audit to assess their readiness.

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Manish Khandelwal
Manish Khandelwal

Manish Khandelwal, a travel-tech enthusiast with over a decade of experience in the travel industry. Founder and Editor-in-Chief of Travelobiz.com, he's passionate about writing.

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