Pune : Go First files for bankruptcy, announces flight suspension for 2 days

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Indian low-cost carrier Go First has filed for voluntary insolvency resolution proceedings on Tuesday, May 2 before the National Company Law Tribunal (NCLT), Delhi. The news has spread panic among the airline’s passengers who have booked their tickets in the coming few days.

The airline temporarily suspended its operations on May 3 and May 4, due to a serious cash shortage, CEO Kaushik Khona of the company informed the news agency. The Directorate General of Civil Aviation (DGCA) on Tuesday informed that all flights of the Go First Airlines will remain cancelled on May 3 (Wednesday) and 4 (Thursday). 

In his message, Khona stated, “Go First is facing a financial crunch due to non-supply of engines by P&W, which has forced the grounding of 28 planes,” he said. The company, according to Khona, has also requested National Company Law Tribunal (NCLT) voluntary insolvency resolution procedures. The company has grounded 28 aircraft due to Pratt & Whitney’s (P&W) failure to supply engines.