New Delhi: GoFirst announced a fresh tranche of flight cancellations on Tuesday as it remains embroiled in insolvency proceedings. Flights have now been cancelled till June 30 due to operational reasons. The company however assured that it would be able to resume bookings shortly. “We regret to inform you that due to operational reasons, Go First flights scheduled till 30th June 2023 have been cancelled. We apologise for the inconvenience caused by the flight cancellations,” said the airline.
Cash-strapped airline have been grounded since 3 May and flights had previously been cancelled till 28 June.
Go Airlines (India) Ltd, the low-fare carrier that filed for bankruptcy last month, secured lenders’ approval for interim funding of ₹450 crore, potentially paving the way for the grounded airline to resume operations.
While an in-principle approval for interim funds has been granted, the plan is subject to approval from the respective boards of the banks, said one of the people cited above.
The decision was taken at a joint lenders’ meeting on Saturday. Central Bank of India, Bank of Baroda, and IDBI Bank are part of the lenders’ consortium of Go First.
Go First had filed for voluntary insolvency proceedings at the beginning of May and subsequently suspended its flight operations due to rising losses. It cited delays in the delivery of Pratt and Whitney’s engines leading to the grounding of a portion of its fleet. The case remains before the the National Company Law Tribunal.