New Delhi: GoFirst chief Kaushik Khona said that the airline is suspending flights on May 3 and 4 because of a severe fund crunch. The budget airline has also filed an application with the National Company Law Tribunal (NCLT) in Delhi for voluntary insolvency resolution proceedings.

While talking to the media the chief stated that due to Pratt & Whitney (P&W) engine supply issues, the airline has grounded 28 planes, accounting for more than half of its fleet. As a result, funds are scarce.

Read More :-‘COAL PRODUCTION HAS SEEN 23% GROWTH IN LAST FIVE YEAR’: SAYS GOV

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

The airline has informed the government of the events and will also submit a full report to the aviation regulator, the Directorate General of Civil Aviation (DGCA). Flights will be cancelled on May 3 and 4. The flights will resume once the NCLT approves the application.

Also Read: Gangster Tillu killed after gang war erupts in Tihar Jail

Read More :- Latest Business News