Cash-strapped airline Go First has taken a significant step towards its revival by submitting a detailed plan to the Directorate General of Civil Aviation (DGCA), India’s civil aviation regulator.
The proposal, presented by Go First’s resolution professional Shailesh Ajmera and former CEO Kaushik Kona, outlines the airline’s strategy to restart operations at the earliest possible. This development comes as Go First remains embroiled in insolvency proceedings, forcing it to cancel flights until June 30.
Meeting with DGCA Officials
Shailesh Ajmera and Kaushik Kona met with officials from the DGCA to discuss GoFirst’s revival plan, according to reliable sources. The airline’s resolution professional and former CEO presented the comprehensive proposal, aiming to garner support from the regulatory authority.
Revival Plan Highlights
As per some media reports, the revival plan submitted by Go First includes the deployment of a fleet consisting of 26 aircraft. Additionally, the proposal mentions four standby planes to ensure operational efficiency.
The airline intends to operate from 22 airports across India and serves 78 routes, offering approximately 160 daily flights.
Flight Cancellations and Resumption Assurance
Due to ongoing operational challenges, GoFirst has been compelled to cancel flights until June 30. However, the airline has assured passengers that bookings will resume shortly.
The resolution professional, Shailesh Ajmera, has provided reassurance to the DGCA regarding the availability of an adequate workforce to support the airline’s operations.
DGCA’s Response and Inspection Audit
In response to GoFirst’s resumption plan, the DGCA has expressed its intention to conduct an inspection audit in the following week. The purpose of the audit is to evaluate the airline’s preparedness for resuming operations and ensuring compliance with safety regulations.
Interim Funding Approval and Lenders’ Meeting
Go Airlines (India) Ltd, the low-fare carrier that filed for bankruptcy last month has received approval from its lenders for interim funding of ₹450 crore (Indian Rupees).
This significant development could potentially pave the way for the grounded airline to resume operations. However, the plan is subject to approval from the respective boards of the banks involved, including the Central Bank of India, Bank of Baroda, and IDBI Bank.