Crisis-hit Go First cancels all flights from May 3-5, files for voluntary insolvency | In Pics

Cash-strapped Go First sought voluntary insolvency resolution proceedings on May 2 and decided to cancel flights for three days starting from May 3, as the budget airline is unable to meet financial obligations amid the grounding of half of its fleet due to the non-availability of Pratt & Whitney (P&W) engines.

Moneycontrol News
May 03, 2023 / 01:37 PM IST
Cash-strapped Go First on May 2 sought voluntary insolvency resolution proceedings and decided to cancel flights for three days starting from May 3, as the budget airline is unable to meet financial obligations amid the grounding of half of its fleet due to the non-availability of Pratt & Whitney (P&W) engines. (Image: ANi)
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Cash-strapped Go First on May 2 sought voluntary insolvency resolution proceedings and decided to cancel flights for three days starting from May 3, as the budget airline is unable to meet financial obligations amid the grounding of half of its fleet due to the non-availability of Pratt & Whitney (P&W) engines. (Image: ANi)
Go First, which has been flying for more than 17 years, cancelled all flights for three days -- May 3, 4 and 5 -- and promised to make a full refund to the customers. It operates around 180-185 flights, carrying around 30,000 passengers on a daily basis. (Image: ANI)
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Go First, which has been flying for more than 17 years, cancelled all flights for three days -- May 3, 4 and 5 -- and promised to make a full refund to the customers. It operates around 180-185 flights, carrying around 30,000 passengers on a daily basis. (Image: ANI)
The airline's CEO Kaushik Khona said the airline has grounded 28 planes, more than half of its fleet, due to the non-supply of engines by P&W, and that has resulted in a fund crunch. (Image: ANI)
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The airline's CEO Kaushik Khona said the airline has grounded 28 planes, more than half of its fleet, due to the non-supply of engines by P&W, and that has resulted in a fund crunch. (Image: ANI)
Amid the confusion, passengers who booked their tickets with the airlines were left in the lurch. Union Civil Aviation Minister Jyotiraditya Scindia said that the Government of India has been assisting Go First Airlines in every possible manner but it is incumbent upon the airline to make alternative travel arrangements for passengers so that they do not face inconvenience. (Image: ANI)
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Amid the confusion, passengers who booked their tickets with the airlines were left in the lurch. Union Civil Aviation Minister Jyotiraditya Scindia said that the Government of India has been assisting Go First Airlines in every possible manner but it is incumbent upon the airline to make alternative travel arrangements for passengers so that they do not face inconvenience. (Image: ANI)
DGCA has sought a reply from Go First Airlines within 24 hours of the issuance of the show cause notice. In this regard, Go First Airlines said that due to the non-supply of engines by the US-based Jet engines manufacturer, operations will remain cancelled. (Image: ANI)
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DGCA has sought a reply from Go First Airlines within 24 hours of the issuance of the show cause notice. In this regard, Go First Airlines said that due to the non-supply of engines by the US-based Jet engines manufacturer, operations will remain cancelled. (Image: ANI)
The Go First had filed an application with the National Company Law Tribunal in New Delhi on May 2. The budget airline said in a statement that they had to take this step due to the ever-increasing number of failing engines supplied by Pratt & Whitney's International Aero Engines, LLC, which has resulted in Go First having to ground 25 aircraft as of May 1, 2023. (Image: ANI) (With inputs from agencies)
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The Go First had filed an application with the National Company Law Tribunal in New Delhi on May 2. The budget airline said in a statement that they had to take this step due to the ever-increasing number of failing engines supplied by Pratt & Whitney's International Aero Engines, LLC, which has resulted in Go First having to ground 25 aircraft as of May 1, 2023. (Image: ANI) (With inputs from agencies)
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Tags: #bankruptcy #Business #Delhi Airport #Go First #India #Pratt & Whitney #Slideshow
first published: May 3, 2023 01:36 pm