
Go first airline, which filed for bankruptcy protection in May, is aiming to resume its flight operations by the end of this month, said a report on Thursday.
The airline also hopes to restore approximately 94% of its daily flights.
The airline submitted a revival plan to the aviation regulator DGCA, proposing to operate 157 daily domestic flights, slightly fewer than the 167 flights it previously operated, reported Bloomberg quoting sources. The sudden suspension of flights last month was attributed to issues with the Pratt & Whitney engines powering its fleet.
Quoting a source, the reported mentioned that Go Airlines is hopeful that DGCA will approve its proposal this week, enabling the airline to resume flights within the next two weeks. On Thursday, Go First suspended its operations till June 19.
The airline has 6.4% share of the Indian aviation market.
Go First plans to operate 22 aircraft initially and reserve four aircraft for future requirements. Despite the recent turbulent times resulting in the loss of around 175 pilots, the airline still has over 500 pilots, sufficient to operate approximately 30 planes, said the report.
The airline is pursuing $1.1 billion in compensation from the engine manufacturer through US arbitration and seeks the fulfilment of outstanding orders for 144 engines.
The report added that the airline will discontinue services to less profitable destinations such as Varanasi, Patna, Lucknow and Ranchi. Instead, the airline intends to concentrate on high-demand areas like Srinagar, Delhi and Let, where airfares have surged during its period of absence.
Go First's plea for voluntary insolvency resolution proceedings was admitted by the National Company Law Tribunal (NCLT) on May 10.
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