Go First Preps For Take Off Once Again By June-End Following Delays
Take Stock Of The Week Ahead

Get all the latest Share Market trends and news to set you up for the week ahead.

Go First is reportedly preparing for most of its daily flights over a month after the debt-ridden airline filed for bankruptcy.

What Happened? The Wadia Group-backed airline, which was granted bankruptcy protection last month, plans to restore 94% of its daily flights, Bloomberg reported, citing sources.

After submitting a revival plan to the Directorate General of Civil Aviation (DGCA), the airline is targeting 157 daily domestic flights – a slight reduction from its previous count. With regulatory approval expected this week, Go First is preparing for a comeback within the next two weeks.

See Also: Go First Collapse: Which Companies Would Emerge As Winners And Losers?

The troubled airline has previously postponed and cancelled flights as its owners rush to put together resources to get its fleet back in the air.

As part of its strategic restructuring, the airline will focus on high-demand routes, such as Srinagar, Delhi and Leh, while discontinuing services to less profitable destinations, the sources said. By aligning its operations with market demand, Go First aims to ensure long-term sustainability and profitability.

With a pool of over 500 pilots, Go First has enough human resources to operate around 30 aircraft, eliminating the immediate need for new hires, according to the sources. The airline’s focus is on optimizing its existing resources to achieve operational efficiency and effectively meet customer needs, they added.

Addressing engine-related issues remains a priority for Go First. The airline has taken legal action seeking compensation of $1.1 billion from engine manufacturer Pratt & Whitney for alleged engine failures that had grounded most of the budget carrier’s fleet before it went bankrupt. Go First is also awaiting the fulfillment of outstanding engine orders.

Read Next: Lenskart Gets Eye-Catching $100M Funding Boost From ChrysCapital

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Comments
Loading...