Amid insolvency crisis, budget airline Go First is expected to resume flights on May 24. The airline has chalked out a business plan to restart its operations with 23 aircraft, according to a media report.
“The airline has 27 aircraft which were operating till May 2. It has 51 and 37 departure slots at the main airports of Delhi and Mumbai. There is a plan to resume operation as early as possible but it will be with a truncated schedule,” Economic Times quoted a source as saying.
The development comes after the National Company Law Tribunal (NCLT) allowed IBC proceedings against the airline in the order passed on Wednesday. The tribunal appointed Abhilash Lal as the resolution professional for Go First.
According to the ET report, the airline has been in discussions with the Indian government about its plans to resume flights and will approach the authorities for permission to resume bookings following a meeting on May 11.
Furthermore, the airline will also submit a resumption plan to Directorate General of Civil Aviation (DGCA) that outlines the number of aircraft it will operate and the destinations it will serve.
Go First, which has been flying for more than 17 years, stopped flights from May 3 amid financial crunch caused by grounding of more than half of its fleet due to non-availability of Pratt & Whitney engines.
On Wednesday, the tribunal put the company under protection of moratorium and directed the suspended board of directors to assist the IRP to run the company during insolvency proceedings.
Furthermore, it ordered to keep the company as a "going concern" and ensure that no employees are retrenched.
Meanwhile, the Wadia group-owned carrier on Wednesday said that all flights scheduled till May 19 have been cancelled due to "operational reasons".
"A full refund will be issued to the original mode of payment shortly," it said in a statement.
Also Read: ‘Allegations without merit’: Pratt & Whitney pursuing legal recourse against Go First
Also Read: Go First insolvency: Why the airline was staring at a crisis for long