On Monday (July 31, 2023), the National Company Law Tribunal (NCLT) issued notices to the Committee of Creditors of Go First and the insolvency regulator IBBI regarding a plea to refund ₹ 597.54 crore to approximately 15.5 lakh passengers who had booked tickets for travel on and after May 3.
Go First DGCA
Wadia-owned Go First, the grounded airline since May 3, 2023, has decided to scale down its planned resumption of operations by nearly 30%.
The Directorate General of Civil Aviation (DGCA) is analyzing the report of a special audit of grounded Go First (G8), which is undergoing an insolvency resolution process.
Directorate General of Civil Aviation (DGCA), the aviation regulator, has commenced a special audit of Go First (G8)’s facilities as the airline seeks approval to resume operations.
DGCA has announced that it will conduct a special audit of Wadia-owned Go First (G8), which filed for bankruptcy two months ago, to assess its readiness for resuming operations.
Today (On Jun 7, 2023), Indian Civil Aviation Minister Jyotiraditya Scindia announced that the Directorate General of Civil Aviation (DGCA) is presently evaluating the flight resumption proposal presented by LCC Go First (G8).
According to sources familiar with the matter, the Wadia Group intends to secure funds promptly to revive its insolvent airline, Go First
Wadia-owned Indian ULCC, Go First (G8), is facing financial challenges and has appealed to the DGCA to refrain from suspending or revoking the Air Operator’s Permit (AOP)
According to a source, senior executives of Go First (G8), currently undergoing an insolvency resolution process, held discussions with officials from the DGCA on Monday to outline their plans for the airline’s revival.
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.