Go First, the beleaguered airline, has extended its flight cancellations until August 31, 2023. This comes after an initial announcement that had halted all flights up to August 27.
What Happened? The airline made this announcement on the social media platform X, previously known as Twitter.
Further, the airline expressed its commitment to a swift resolution and the revival of its operations. Their statement clarified, “The company has filed an application for immediate resolution and revival of operations. We are hopeful of resuming bookings in the near future.”
It’s worth noting that Go First had previously cancelled its flights and voluntarily filed for bankruptcy with the National Company Law Tribunal (NCLT) on May 2. The airline attributed its challenges to delays in the supply of engine parts by the US-based engine manufacturer, Pratt and Whitney, which resulted in the grounding of its fleet.
The Directorate General of Civil Aviation (DGCA), India’s aviation regulatory body, has provisionally permitted Go First to restart its operations. The DGCA’s approval is contingent upon the availability of interim funding and the regulator’s endorsement of the flight schedule. As of now, the DGCA has sanctioned the operation of 15 aircraft, amounting to 114 daily flights.
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Why it matters? Go First, which employs around 4,200 individuals, recorded a total operational revenue of ₹4,183 crore in the fiscal year 2021-22. Industry insiders have noted that the grounding of Go First flights has exerted upward pressure on airfares, especially on specific routes where the airline had a significant presence.
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