shot-button
Maharashtra Elections 2024 Maharashtra Elections 2024
Home > News > India News > Article > Go First to suspend flights on May 3 4 files for voluntary insolvency resolution proceedings

Go First to suspend flights on May 3, 4; files for voluntary insolvency resolution proceedings

Updated on: 02 May,2023 04:33 PM IST  |  Mumbai
PTI |

The budget carrier has also filed an application for voluntary insolvency resolution proceedings before the National Company Law Tribunal (NCLT), Delhi

Go First to suspend flights on May 3, 4; files for voluntary insolvency resolution proceedings

Representational Pic. iStock

Wadia group-owned Go First will temporarily suspend flights on May 3 and 4 amid severe fund crunch, the airline's chief Kaushik Khona said on Tuesday.


The budget carrier has also filed an application for voluntary insolvency resolution proceedings before the National Company Law Tribunal (NCLT), Delhi.


Speaking to PTI, Khona said the airline has grounded 28 planes, more than half of its fleet, due to non-supply of engines by Pratt & Whitney (P&W). This has resulted in a fund crunch.


"It is an unfortunate decision (filing for voluntary insolvency resolution proceedings) but it had to be done to protect the interests of the company," he said.

Also Read: IN PHOTOS: Sharad Pawar resigns from post, supporters protest

The airline has informed the government about the developments and will also be submitting a detailed report to aviation regulator Directorate General of Civil Aviation (DGCA).

Flights will be suspended on May 3 and 4. Once the NCLT admits the application, then the flights will be restarted, Khona said.

Go First has more than 5,000 employees.

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever

"Exciting news! Mid-day is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest news!" Click here!

Register for FREE
to continue reading !

This is not a paywall.
However, your registration helps us understand your preferences better and enables us to provide insightful and credible journalism for all our readers.

Mid-Day Web Stories

Mid-Day Web Stories

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK