The Wadia Group-owned GoFirst has announced that it will suspend flights on May 3 and 4 due to severe fund crunch. The announcement was made by the airline’s chief, Kaushik Khona.
The budget airline has also filed an application for voluntary insolvency resolution proceedings before the National Company Law Tribunal (NCLT), Delhi.
Khona said the airline has grounded 28 planes, more than half of its fleet, due to non-supply of engines by Pratt & Whitney (P&W).
Ahmedabad features prominently in the GoFirst schedule, but most of its flights, including to the city, face delays.
“It is an unfortunate decision (filing for voluntary insolvency resolution proceedings) but it had to be done to protect the interests of the company,” he said. The airline has informed the government about the developments and will also be submitting a detailed report to aviation regulator Directorate General of Civil Aviation (DGCA).
Flights will be suspended on May 3 and 4. Once the NCLT admits the application, then the flights will be restarted, Khona said. GoFirst has more than 5,000 employees.
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