GoFirst | GoFirst suspends flights for two days, files for voluntary insolvency resolution

File : Photo Mumbai. Wadia Group-owned low-cost carrier GoFirst will temporarily suspend its flights on May 3 and 4 due to severe cash crunch. Airline chief Kaushik Khona gave this information on Tuesday. Along with this, the airline has also applied for voluntary insolvency resolution process in the Delhi bench of the National Company Law Tribunal (NCLT). Khona told PTI that the airline had to ground more than half of its fleet of 28 aircraft due to non-supply of engines from Pratt & Whitney (P&W). Because of this, a cash crunch has arisen in front of the airline. Go First Airlines informed DGCA that all its flights will remain canceled on 3rd and 4th of May: DGCA pic.twitter.com/tHvJt5zB6n — ANI (@ANI) May 2, 2023 “Applying for insolvency resolution is an unfortunate decision But it was necessary to do so to protect the interests of the company. The airline has also informed the government about these developments. Along with this, she is going to submit a detailed report in this regard to the Directorate General of Civil Aviation (DGCA). Khona said the airline’s flights would remain suspended on May 3 and 4. After that the flight operations will resume. GoFirst has over 5,000 employees. (agency)