The DGCA has demanded that Go First submit a “comprehensive” revival plan within 30 after the regulator found the airline’s response to its showcause notice dissatisfactory.
“The DGCA has advised the airline on May 24 to submit, within a period of 30 days, a comprehensive restructuring/revival plan for a sustainable revival of operations,” the safety regulator said in a press statement.
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The airline has been asked to furnish details of the availability of the operational aircraft fleet, pilots and other personnel required, maintenance arrangements, as well as funding being raised and arrangements with lessors and vendors.
A senior DGCA official explained that the latest communication followed Go First’s response to its show-cause notice, which was found to be “open-ended” as it merely professed an interest in resumption of flights without committing to timelines.
The airline had also expressed that it would like to use the moratorium period to prepare such a plan for revival and submit it to the DGCA for regulatory approvals. To a question on whether the DGCA will also be auditing the airline before recommencement of flights, the official said “we will take a view on that later.”
The NCLT on May 10 admitted Go First’s plea for voluntary insolvency and granted it protection under a moratorium from its lessors as well as various lenders and instructed the interim resolution professional to run the airline as a going concern.
