Go First, the renowned low-cost airline previously known as GoAir, has disclosed the cancellation of all scheduled flights until July 27, 2023, citing ongoing operational challenges. The company has also taken proactive steps to revive operations while facing engine troubles and navigating the complexities of voluntary bankruptcy filing.
Go First, the financially challenged airline, is on the brink of restarting its flight operations following the acceptance of its resumption plan by the Directorate General of Civil Aviation (DGCA). However, certain conditions and pending legal proceedings continue to pose uncertainties for the airline's future.
The Directorate General of Civil Aviation (DGCA) has placed SpiceJet under increased surveillance due to financial headwinds. SpiceJet denies the allegations but faces scrutiny as lessors aim to repossess leased aircraft. The airline's operations and financial results are under close monitoring.
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.
The overall average price of air tickets on multiple routes, such as Delhi-Mumbai, has shown a decline, according to a recent analysis by DGCA. While certain routes witnessed a significant drop in fares, others experienced an increase. The Ministry of Civil Aviation has called for self-regulation by airlines to ensure reasonable pricing.
Go First has 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.
Go First has extended its flight cancellations until June 19 due to operational reasons. The company apologizes for any inconvenience caused and is committed to providing assistance to affected passengers. Go First has also filed an application for immediate resolution and revival of its operations.
India's domestic air passenger traffic soared by 15% in May 2023, as per DGCA data, with IndiGo leading the market. The month also saw the grounding of Go First and notable market share growth for Tata Group airlines and Akasa Air.
The Indian aviation industry receives a boost as the DGCA introduces a streamlined 10-point checklist, replacing the previous 33-point requirements. This simplification aims to expedite the approval process for Indian carriers to establish new international destinations.
Crisis-hit Go First Airlines announces further flight cancellations till June 9, citing operational reasons. Passengers will receive full refunds. Meanwhile, the National Company Law Tribunal (NCLT) instructs the airline's resolution professional to address petitions filed by lessors seeking repossession of leased aircraft and engines.
