the Wadia group According to severe financial constraints, Go First will temporarily suspend flights on May 3 and 4, according to the airline's CEO Kaushik Khona.
The low-cost airline has also requested the National Company Law Tribunal (NCLT), Delhi, open volu![]()
ntary insolvency resolution procedures.
Speaking to PTI, Khona claimed that the airline had grounded 28 aircraft—more than half of its fleet—due to Pratt & Whitney's (P&W) failure to supply engines. Consequently, there is a financial crisis.
The filing for voluntary insolvency resolution procedures was a regrettable choice, but it was necessary to do so to safeguard the company's interests, he added.
The airline has notified the government of the events and will also provide a thorough report to the Directorate General of Civil Aviation (DGCA), which oversees aviation safety.
May 3 and 4 will see a suspension of flights. Flights will resume after the NCLT approves the application, according to Khona.
More than 5,000 people are employed at Go First.
