Financially troubled airline Go First on Friday extended the flight suspension period till May 26. The airline on Friday tweeted: “Due to operational reasons, Go First flights until 28th May 2023 are cancelled.” The airline added that a full refund will be issued to the original mode of payment.
“As you are aware, the company has filed an application for immediate resolution and revival of operations. We will be able to resume booking shortly.”
On Thursday, the country’s civil aviation regulator said that it has advised the bankrupt airline to submit a comprehensive operational revival plan within 30 days.
The airline has been asked to furnish the status of availability of operational aircraft, pilots and other personnel, maintenance arrangements, funding or working capital, arrangements with lessors and vendors, among other, the Directorate General of Civil Aviation (DGCA) had said.
The revival plan, once submitted, shall be reviewed for further “appropriate action”.
Earlier this week, Go First submitted its response to a DGCA showcause notice, requesting to be allowed to use the moratorium period to prepare a restructuring plan to restart operations and present it to DGCA “for the requisite regulatory approvals before restarting operations”.
The development comes days after the revival prospects of Go First received a major boost from the National Company Law Appellate Tribunal (NCLAT).
The NCLAT upheld the National Company Law Tribunal’s (NCLT) order allowing for the airline’s voluntary insolvency resolution proceedings.
The order further said that the adjudicating authority, which in this case is the NCLT, will decide the matter of repossession of aircraft by lessors, whose leases were terminated prior to admission of ‘Section 10’ application.