A resolution professional overseeing the insolvency process for Go First (G8) has initiated the next phase by inviting an Expression of Interest (EOI) for the sale of the carrier, as reported in an advertisement in ET on Monday.
Go First Cancels flights
Go First (G8), a financially strained budget airline, has requested additional funding of Rs 400-600 crore from its lenders to revive its operations.
Go First (G8), has once again extended the flight cancellations till June 25, and it will not restart operations until DGCA and MoCA give it permission to do so.
On Monday, the Directorate General of Civil Aviation (DGCA), the Indian aviation watchdog, issued a show cause notice to Go First (G8), an airline owned by the Wadia Group, due to the sudden cancellation of flights and initiation of the corporate insolvency resolution process under IBC.
the NCLT is scheduled to hear two petitions for insolvency proceedings against Go First (G8), which is currently awaiting a ruling on its voluntary insolvency resolution plea.
Former Jet Airways (9W) CEO Sanjiv Kapoor has shared his thoughts on the temporary shutdown of Go First (G8) Airlines. He mentioned that the closure of G8 is not good for Indian passengers.
Tata Air India has posted a hiring schedule for Pilots after Go First cancels flights till May 9 and maybe till May 15. The airline has shared the schedule on its social media pages.
India’s low-cost carrier Go First (G8) has extended the suspension till May 9. The airline announced this in a notice on its social media platforms.
Pratt and Whitney (PW), the company has responded to Go First’s allegation that its voluntary bankruptcy filing was due to PW’s inability to supply engines. Half of Go First’s Airbus A320neo fleet was grounded for months.
According to two bankers who are familiar with the matter, lenders of Go Airlines (India) Ltd are expected to convene on Wednesday to deliberate on the next steps to be taken following the airline’s filing for bankruptcy on Tuesday.