 "Go First")
Citing "operational reasons", aircraft carrier Go First on Friday said that all Go First flights until 30th July has been cancelled. In a post on social media platform X, the airline operator said, "We acknowledge the flight cancellations might have disrupted your travel plans and we are committed to providing all the assistance we can."
Go Air further said that it will be "able to resume bookings shortly."
On July 26, Go First applied to airport operators for the restoration of its slots to restart operations. The airline operated a test flight from Mumbai on July 26.
After the airline ceased operations in May, the slots were allocated to other airlines on an ad hoc basis. Go First has now sought restoration of these slots, The Financial Express (FE) reported on July 26.
In May, Go First declared insolvency due to a cash crunch, and its application was admitted by the National Company Law Tribunal (NCLT).
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The airline's committee of creditors (CoC) conducted its first meeting earlier this month where the grounded carrier's revival plan was discussed. In this meeting, Lal was replaced by Shailendra Ajmera of consultancy EY as the interim resolution professional as the former was selected by the Go First management. While Lal submitted a revival plan to the Directorate General of Civil Aviation (DGCA) last month, sources said that Ajmera could submit a new revival plan soon after analysing the funds with the carrier.
On July 19, media reports said that lenders were likely to order a forensic audit of Go First airline to check if there has been any diversion of funds. Go First’s insolvency application said it owes financial creditors—Deutsche Bank, Bank of Baroda, Central Bank of India and IDBI Bank among them—Rs 6521 crore ($798 million) as on April 28.
On July 26, the NCLT refused to restrain the resolution professional of Go First Airlines from using the aircraft leased to it by six leasing companies.
