According to a source, senior executives of Go First (G8), currently undergoing an insolvency resolution process, held discussions with officials from the Directorate General of Civil Aviation (DGCA) on Monday to outline their plans for the airline’s revival.
The meeting occurred in Delhi and came after the DGCA’s recent request for Go First. To submit its revival plan within a 30-day timeframe following the airline’s grounding.
Go First Meet DGCA for Revival Plans
On May 2, the budget carrier Go First filed a petition for voluntary insolvency resolution proceedings, stating that it was unable to continue its operations due to the non-delivery of engines by Pratt & Whitney, a US engine maker.
The NCLT admitted the airline’s plea on May 10 after Go First grounded on May 3.
According to an anonymous source, the DGCA called the entire management team of Go First for a meeting on Monday to discuss the airline’s plan for resuming operations. Subsequently, the team presented a roadmap outlining their strategy for reviving Go First’s operations.
Without providing specific information, the source mentioned that all stakeholders are eager to witness the airline’s resurgence.
“The airline will soon announce its plan for the future. At present, it is moving in the right direction,” the source stated. Currently, the airline has temporarily halted operations until May 30.
The source suggested that the suspension of flights would be prolonged by a few additional days. Since the DGCA will require time to reach a final decision on the submitted revival plan.
Go First Raise Pilots Salary
In an effort to revive its operations following the insolvency filing on May 2, Indian ULCC Go First (G8) intends to increase the monthly salary of its pilots, for captains, by Rs 100,000 ($1,211) and first officers, by Rs 50,000. This step aims to address the challenges faced by the airline and ensure its operations’ stability.
According to an email seen by Bloomberg News, Go First will implement additional pay. Further, it called it a retention allowance starting from June 1.
This allowance will be offered to currently employed pilots and those who have previously left the company but are willing to withdraw their resignations by June 15.
Additionally, the airline plans to reintroduce a “longevity bonus” in the near future as a gesture of appreciation for its long-serving staff.
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