DelhiDesk Go First, an airline company owned by the Wadia Group, has cancelled all its flights until May 12 due to severe economic crisis. The company has filed for a voluntary insolvency resolution petition before the National Company Law Tribunal (NCLT). More than half of Go First’s fleet is grounded due to non-supply of engines by Pratt & Whitney. The total liability on the airline is Rs 11,463 crore, including the amount of Rs 3,856 crore that it has defaulted in repaying to operational creditors and dues of aircraft leasing companies worth Rs 2,600 crore. Passengers who have booked tickets will receive a full refund.
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Here is the news bullets sorted by DelhiBreakings.com team.
– Go First airline has canceled all its flights until May 12 due to operational reasons.
– The company had filed a voluntary insolvency resolution petition before the National Company Law Tribunal.
– The tribunal had reserved its order while hearing on this on Thursday.
– Passengers who have booked tickets will receive a full refund soon.
– The airline had canceled its flights for three days from May 3, which was later extended to May 9 and now May 12.
– Aviation regulator DGCA has banned ticket sales till May 15 and directed the airline to return the passengers’ money as per rules.
– More than half of Go First’s fleet is grounded due to non-supply of engines by Pratt & Whitney.
– The total liability on the airline is Rs 11,463 crore, including the amount of Rs 3,856 crore that it has defaulted in repaying to operational creditors and Rs 2,600 crore dues of aircraft leasing companies.
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