In a bid to assess the potential diversion of funds, banks are set to conduct a forensic audit of the cash-strapped Go First Airline (G8), which recently filed for bankruptcy protection.
Go first news
Wadia-backed Indian ultra-low-cost carrier, Go First (G8) pilots plan to raise a complaint with resolution professional (RP) Shailendra Ajmera, stating that the airline has failed to issue the promised pay increment letters.
According to a report, the creditors of Go First (G8) Airlines have taken decisive action by replacing the officials associated with the company’s bankruptcy proceedings.
According to Airbus’s latest orders and delivery data, the Indian ULCC Go First (G8) and Airbus have mutually decided to cancel orders for 16 Airbus A320neo aircraft in May.
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).
Executives of Indian ultra-low-cost carrier, Go First (G8) have communicated to the Directorate General of Civil Aviation (DGCA) that the airline is ready to conduct 152 flights per day upon resuming its operations.
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.
Indian ULCC Go First (G8) intends to increase the monthly salaries of its pilots, for captains, by Rs 100,000 ($1,211) and first officers, by Rs 50,000.