New Delhi: Cash-strapped airline, Go First, on Wednesday announced that all its flights stand cancelled till May 19. Meanwhile, it also informed that a full refund will be issued to the affected customers.
In an official statement, the airline said, “We regret to inform that due to operational reasons, Go First flights scheduled till 19th May 2023 have been cancelled. We apologise for the inconvenience caused by the flight cancellations.”
“A full refund will be issued to the original mode of payment shortly”, said the airline.
Filing for Insolvency
Meanwhile, the National Company Law Tribunal (NCLT) approved Go First’s plea for voluntary insolvency and admits of the Corporate Insolvency Resolution Process (CIRP) proceeding, ANI reported.
Adding to the insolvency proceedings, NCLT appointed Abhilash Lal as IRP (Interim Resolution professional). The law tribunal also ordered the suspended directors to deposit Rs 5 crores to bear immediate expenses, and to comply with the IRP, reported ANI.
The Go First airline further acknowledged in its statement about the travel plans disruptions that are being faced by its customer due to flight cancellations. Moreover, also said that it will be resuming bookings shortly and thanked its passengers for their patience.
Cash strapped airline
Go First, the airline that is in crisis for the past week due to its insolvency issues has been ordered by the aviation watchdog Directorate General of Civil Aviation (DGCA) to cease its flight bookings with immediate effects. Earlier too, the airline cancelled its flights till May 15 after filing an insolvency plea.
Last week, Go First filed for bankruptcy as it faced a severe cash crunch and blamed it on the US aerospace manufacturer Pratt and Whitney for its “faulty” engines that had led to the grounding of over half its feet. The airline’s bankruptcy filings show that it has liabilities of over Rs.11,000 crore.
