Go First looks to resume flights by end June; Shailendra Ajmera gets NCLT nod as Resolution Professional
2 min read 15 Jun 2023, 07:47 PM ISTGo First is currently undergoing insolvency proceedings at the National Company Law Tribunal and has not flown since May 3.
PremiumBeleaguered domestic carrier Go First is now looking to resume flights by the end of June. The indication came even as the National Company Law Tribunal approved the appointment of Shailendra Ajmera as Go First’s Resolution Professional. The crisis-hit airline also extended its ongoing string of flight cancellations on Thursday evening, citing “operational reasons" to scrap all flights till June 19.
According to a CNBC-TV18, the NCLT has directed the new Interim Resolution Profession to respond to concerns raised by the aircraft lessors. While the lessors had raised no objections to the change. However the lessors contended that the IRP had so far made no efforts to maintain the aircrafts.
Meanwhile a Bloomberg report quoting sources said that the company was hoping to restore 94% of its daily flights by the end of this month. The revival plan submitted by the company reportedly says that the carier can operate 157 daily domestic flights.
Go First had abruptly halted flights last month, blaming problems with the Pratt & Whitney engines that power its fleet. The carrier filed for voluntary insolvency proceedings soon after this, and gradually lost about 175 pilots at it remained grounded. According to reports, the carrier is also waiting for creditors to approve additional funding.
Go First is hoping to get its revival plan approved by the aviation regulator this week. This in turn would allow it to resume flights within the next two weeks. The carrier had previously voiced hope about restarting flights in May.
The airline, which rebranded as Go First about two years ago, controls 6.4% of the Indian aviation market. Despite recent losses Go First reportedly still has more than 500 pilots — enough to fly some 30 planes — and doesn’t need to immediately hire more.
(With inputs from agencies)