The airline has been given 30 days by the DGCA to put forward a restructuring or revival plan including fleet, pilot and maintenance plans. After which this statement has come out from the company.
GoFirst has once again announced the cancellation of all flights till May 28, citing operational issues. The airline has also promised the passengers that their refund will be returned. According to the tweet issued by ANI, the company said that we accept that flight cancellations can hamper your travel planning, but are fully prepared to help you in every possible way.
30 days given time
The Directorate General of Civil Aviation ie DGCA has given the airline 30 days to put forward a restructuring or revival plan including fleet, pilot and maintenance plans. After which this statement has come out from the company. The low-cost airline had stopped flying on May 3 and is undergoing voluntary solvency resolution proceedings before the National Company Law Tribunal (NCLT).
The company is preparing a restructuring plan
According to the DGCA official, the company has to prepare a restructuring plan to restart the airline. For this, the company has demanded a moratorium of one month. The official said that before restarting the airline, the company will present its planning to the DGCA for necessary regulatory approval. After the action plan of Go First comes in front of DGCA, it will assess the revival plan.
ELCGS fund balance is not received
With regard to funds to restart the airline, Go Airlines CEO Kaushik Khona had earlier told IANS that the balance amount of Rs 208 crore out of Rs 1,500 crore sanctioned to the company under the Emergency Line Credit Guarantee Scheme (ELCGS) Not found yet. According to him, around Rs 17-18 crore would be required everyday to start the airline. Khona had also said that after accepting the petition, the airline would soon be able to fly again with its planes in 7/8 days.
