【 RNI-HIN/2013/51580 】
【 RNI-MPHIN/2009/31101 】
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Go First Flights: Go First plans to restart flights from 24 May
12 May 2023
The airline has worked on a business plan to restart with 23 aircraft but with a smaller operation.
Synopsis
The airline has discussed the resumption plans with the government. The current management which will now be superseded by a court appointed resolution professional of consultancy firm Alvarez & Marsal will hold a meeting tomorrow following which it will approach the government to resume bookings.
Low cost airline Go First plans to restart flights by 24 May, people aware of the airline’s plan said.
Sources said that the airline has worked on a business plan to restart with 23 aircraft but with a smaller operation. “The airline has 27 aircraft which were operating till 2 May. 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,” said a person aware of the development.
The airline has discussed the resumption plans with the government. The current management which will now be superseded by a court appointed resolution professional of consultancy firm Alvarez & Marsal will hold a meeting tomorrow following which it will approach the government to resume bookings.
Civil aviation regulator DGCA on Monday had directed the airline to immediately stop ticket sales and issued a show-cause notice for its failure to provide efficient and reliable services. “After the meeting with resolution professional the airline will submit a resumption plan to DGCA which will include the total number of aircraft and the destinations it intends to operate,” the person quoted above said.
The NCLT on Wednesday admitted the company under the voluntary insolvency resolution process.
The court order has restrained lessors from recovering pending dues or terminating aircraft lease agreements and also forbids airports from cancelling the airline’s slots. Lessors had filed deregistration requests for 46 aircraft which now stands invalid.
“This is a historic and landmark judgement. It is also a perfect example "in the context of revival of a viable business before it becomes unviable," airline’s CEO Kaushik Khona said, adding that they are looking to resume as soon as possible.
Data provided by aviation analytics firm Cirium shows that Go First had high frequency on leisure destinations like Srinagar, Leh and Goa. Air fares to these destinations have skyrocketed after the suspension of flights by Go First during summer travel season.
Cirium data shows that for the month of May, Go First was to operate 199 flights from Delhi to Srinagar, 182 flights from Delhi to Leh, and 156 flights on the Mumbai-Goa route.
The airline also accounts for six of the about 30 non-stops flights on the Delhi-Srinagar and Mumbai-Goa routes, six of the 52 daily flights on the Delhi-Mumbai route, five of 13 on the Delhi-Leh route, and three of 10 on the Delhi-Bagdogra route
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