GoFirst Postpones Flights till June 16 Due to Cash Crunch
GoFirst, the low-cost airline, has postponed all its flights till June 16 due to a cash crunch. The company has informed its passengers that instead of canceling the flights, it will refund the entire amount. This is not the first time that GoFirst has canceled its flights; earlier, the airline had canceled flights till June 12. In May, GoFirst had stopped its flights altogether.
The decision to postpone flights has been taken due to the company’s severe financial crisis. GoFirst, formerly known as GoAir, has been facing financial difficulties for a long time. The COVID-19 pandemic has further deepened the airline’s financial woes, as it has led to a significant drop in passenger traffic.
The airline had already been struggling with its finances before the pandemic hit. GoFirst had accumulated losses of over INR 4,000 crore ($547 million) until March 2020. The airline had also sought a moratorium on its debt repayments to stay afloat.
GoFirst’s financial troubles have forced it to make significant changes in its operations. The airline had earlier planned to expand its fleet and add new routes. However, it has now put its expansion plans on hold and is focusing on cutting costs. GoFirst has also deferred salary payments to its employees.
The airline industry has been hit hard by the COVID-19 pandemic, and many airlines are struggling to survive. The Indian aviation sector has been particularly hard hit, with several airlines facing financial difficulties. GoFirst is not the only airline that has had to cancel flights and refund passengers due to financial problems.
In conclusion, GoFirst’s decision to postpone its flights is a result of its ongoing financial crisis. The airline is facing severe financial difficulties, and the COVID-19 pandemic has only worsened its situation. The airline’s decision to refund passengers instead of canceling flights is a welcome move for its customers. However, the airline needs to take concrete steps to address its financial problems and ensure its long-term survival.
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