Low-cost carrier Go First has filed for bankruptcy at the National Company Law Tribunal and suspended its flight operations for the next three days — May 3,4, and 5 — over mounting losses, which it has attributed to delays in the delivery of Pratt and Whitney engines, resulting in the grounding of half its fleet of aircraft.
The Directorate General of Civil Aviation (DGCA) has served a show cause notice to the airline for the sudden cancellation of flights without sharing prior information with it, and has also asked it to submit its plan of action for the resumption of flights. In a statement, the airline said that once the NCLT admitted its plea, the court would appoint an Insolvency resolution professional who would take over Go First’s operations.
