UDAN takes Indian aviation to new heights
India's aviation sector achieved a historic milestone as 5,05,412 domestic passengers flew in a single day on November 17, surpassing the 5-lakh daily passenger mark for the first time.
Due to operational reasons, aviation company, Go First on Sunday announced the cancellation of its flights until July 25th
The announcement was made via a Twitter post on Sunday. Go First said: “We regret to inform that due to operational reasons, Go First flights scheduled till 25th July 2023 have been cancelled. We apologise for the inconvenience caused by the flight cancellations.” The tweet further said the company has filed an application for immediate resolution and revival of operations.
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“As you are aware, the company has filed an application for immediate resolution and revival of operations. We will be able to resume bookings shortly. We thank you for your patience,” read the tweet.
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The low-cost airline Go First (originally GoAir) filed for the initiation of insolvency proceedings in early May this year. The company had been struggling with engine troubles for some time, which had led to the grounding of a large number of its aircraft.
On May 2, Go First cancelled its flights and filed for voluntary bankruptcy before the National Company Law Tribunal (NCLT), alleging delays on the part of a US-based engine maker, Pratt & Whitney, for its inability to promptly meet obligations — leading to the grounding of a portion of its fleet.
On May 10, National Company Law Tribunal (NCLT) imposed a moratorium and appointed an Interim Resolution Professional (IRP). Then on June 9, the Committee of Creditors (CoC) appointed Shailendra Ajmera as the Resolution Professional (RP) for Go First, which was approved by NCLT later on.
The airline has approximately 4,200 employees, and it reported total revenue from operations at Rs 4,183 crore in the financial year 2021-22. There were reports that the grounding of the Go First flights had put pressure on airfares, particularly on select routes where it had a footprint.
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