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Budget airline <keyword id="11252024" type="General" weightage="20" keywordseo="go-first" source="Orion">Go First</keyword> has cancelled all its flights till May 28, citing operational reasons. Earlier, the airlines had cancelled flights till May 26. In a note posted on Twitter on Friday, the airline said, "We regret to inform that due to operational reasons, <keyword id="11937496" type="General" weightage="20" keywordseo="go-first-flights" source="Orion">Go First flights</keyword> scheduled till May 28, 2023, have been cancelled. We apologise for the convenience caused by the flight cancellations." The airline also said a full refund will be issued to the original mode of payment shortly. The airline also said the company has filed an application for immediate resolution and revival of operations. It mentioned that it would be able to resume bookings shortly. On Tuesday, budget carrier Go First replied to the show cause notice issued by aviation regulator Directorate General of Civil Aviation (DGCA) where the airline mentioned that it has no definite timeline to resume operations. Civil aviation ministry officials said that airlines expressed an intent to resume operations at the earliest. "There is no definitive timeline as of now for the resumption of operations by Go First. They have expressed an intent to resume operations at the earliest thought," a senior aviation ministry official said. Earlier the regulator DGCA asked the company (Go First) to respond to the show cause notice within 15 days. The regulator had asked Go First to explain the reasons for its inability to run operations and stopped new bookings and halted the sale of tickets. The National Company Law Appellate Tribunal (NCLAT) on Monday upheld the National Company Law Tribunal (NCLT) order which had admitted Go First Airlines' voluntary plea for insolvency. "It disposed of the lessors' petition and asked them to file an appeal before the NCLT."

Go First cancels all flights till May 28, citing operational reasons

The <keyword id="6396354" type="General" weightage="100" keywordseo="national-company-law-appellate-tribunal" source="Orion">National Company Law Appellate Tribunal</keyword> (<keyword id="6396355" type="General" weightage="20" keywordseo="nclat" source="Orion">NCLAT</keyword>) on Monday will hear the appeal filed by three <keyword id="11252024" type="General" weightage="20" keywordseo="go-first" source="Orion">Go first</keyword> lessors -- SMBC Aviation Capital Ltd, SFV Aircraft Holdings and GY Aviation Lease Court Ltd -- challenging the order passed by the National Company Law Tribunal (NCLT) of interim moratorium and insolvency resolution proceedings. NCLAT on Friday deferred the matter pertaining to Go First lessors' petition seeking a stay on a bankruptcy court order allowing voluntary insolvency of the low-cost airline to Monday. On May 10, the NCLT admitted Go First's plea for voluntary insolvency and admitted for the initiation of Corporate Insolvency Resolution Process (CIRP) proceedings. NCLT has granted Go First protection under a moratorium from recovery by lessors and lenders. NCLT, in its order, said, "We admit the plea of Go Airlines for insolvency proceedings. It said that we appoint Abhilash Lal as IRP (insolvency resolution professional)." "The suspended board of directors will cooperate with the IRP. Suspended directors are also ordered to deposit Rs 5 crore to make the immediate expenses," the order stated. The budget airline had also cancelled all the flights' operations till May 19 due to operational reasons, "Go First flights until 19th May 2023 are cancelled. We apologise for the inconvenience caused and request customers." US-based jet manufacturers Pratt and Whitney (P-W) has defended itself against the budget airline's claim that P-W is responsible for the financial condition and bankruptcy. "Go First's allegations that Pratt and Whitney is responsible for its financial condition are without merit. Pratt and Whitney will vigorously defend itself against Go's claims, and is pursuing its own legal recourse," Pratt and Whitney spokesperson told ANI. The airline, owned by the troubled Wadia Group, had earlier blamed P-W for the faulty engines that led to its ongoing financial crisis and it was later forced to file an involuntary bankruptcy petition. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/8-things-that-google-bard-can-do-but-chatgpt-cannot/articleshow/100187360.cms">8 things that Google Bard can do, but ChatGPT cannot</a> <a href="https://www.businessinsider.in/tech/apps/news/how-to-silence-fake-calls-from-unknown-numbers-on-whatsapp/articleshow/100186824.cms">How to silence calls from unknown numbers on WhatsApp</a> <a href="https://www.businessinsider.in/tech/apps/news/whatsapp-is-cracking-down-on-international-scam-calls-after-indias-it-ministry-takes-notice/articleshow/100177253.cms">WhatsApp is cracking down on international scam calls after India’s IT ministry takes notice</a>

National Company Law Appellate Tribunal to hear Go First lessors' plea today

Go <keyword id="6374683" type="General" weightage="100" keywordseo="first" source="Orion">First</keyword> CEO Kaushik Khona met DGCA officials right after the <keyword id="6354457" type="General" weightage="50" keywordseo="national-company-law-tribunal" source="Orion">National Company Law Tribunal</keyword> (<keyword id="6355809" type="General" weightage="50" keywordseo="nclt" source="Orion">NCLT</keyword>) in its judgement on Wednesday admitted the plea of <keyword id="14317728" type="General" weightage="50" keywordseo="go-first-airlines" source="Orion">Go First Airlines</keyword> for insolvency proceedings. The CEO also met the civil aviation secretary for any future course of action. The budget airline last Thursday had filed a petition with the National Company Law Tribunal (NCLT), seeking protection under bankruptcy law. It had also sought an interim moratorium to prevent the seizure of its 26 aircraft by aircraft lessors. In addition, the airline sought direction to appoint an insolvency resolution process (IRP) for the betterment of Go First. The NCLT, the President Justice Ramalingam <keyword id="198622" type="General" weightage="50" keywordseo="sudhakar" source="Orion">Sudhakar</keyword> and technical member LN Gupta announced the order, adding, "We appoint Abhilash Lal as IRP (Insolvency Resolution Professional). Suspended board of directors will cooperate with the IRP." The airline operator has recently filed an application for immediate resolution under insolvency and revival of its operations. Meanwhile, Go First has cancelled all its flights until May 19 this year. Earlier, the cancellations were till May 12. The airline said a full refund would be issued to the original mode of payment shortly. Go First currently has around 50 aircraft in its fleet, with 50 per cent grounded due to engine outages. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/waste-to-wealth-himachal-to-convert-fire-prone-pine-needles-to-biogas-help-reduce-fossil-fuel-dependence/articleshow/100133025.cms">Waste to wealth: Himachal to convert fire-prone pine needles to biogas, help reduce fossil fuel dependence</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/sc-rejects-plea-seeking-recusal-of-cji-chandrachud-from-hearing-pleas-on-same-sex-marriage/articleshow/100133071.cms">SC rejects plea seeking recusal of CJI Chandrachud from hearing pleas on same-sex marriage</a>

Go First CEO meets DGCA official, civil aviation secretary for future course of action

By Quaid Najmi The tottering <keyword id="528556" type="General" weightage="20" keywordseo="Indian-aviation-sector" source="Orion">Indian aviation sector</keyword> hit fresh turbulence when early this month, another flourishing private airline was suddenly grounded owing to various problems, making it the 11th in a decade to �fall from the skies. Throwing their hands up, the <keyword id="11252024" type="General" weightage="20" keywordseo="go-first" source="Orion">Go First</keyword> budget airline's owners -- the Wadia Group -- filed voluntary insolvency resolution proceedings before the National Company Law Tribunal (NCLT) sending shockwaves through the entire <keyword id="34990" type="General" weightage="20" keywordseo="airline-industry" source="Orion">airline industry</keyword>. Go First was plagued by a peculiar problem -- the purported failure of the jet engine manufacturer, Pratt &amp; Whitney, USA, to supply engines/spares for its aircraft that grounded nearly 40 percent of the fleet for several months before it was compelled to totally suspend operations from the first week of May 2023. While the <keyword id="6354787" type="General" weightage="20" keywordseo="DGCA" source="Orion">DGCA</keyword> slapped a show-cause notice on the carrier for its abrupt actions that created havoc with thousands of flyers, Civil Aviation Minister Jyotiraditya Scindia seemed sympathetic to Go First grappling with the engine problems. While assuring that the government was helping out as best as possible, Scindia also called upon Go First to make alternative travel arrangements for its flyers to avoid inconveniencing them. According to Go First the application under the IBC came after the "ever-increasing number of failing engines supplied by PW" which led to the grounding of around 25 of its 61-strong Airbus A-320neo aircraft, or almost 40 percent of its fleet by April 30, 2023. Go First said in a statement that the groundings due to faulty PW engines increased from 7 percent of its fleet in December 2019 to 31 percent in December 2020 and 50 percent in December 2022, and blamed PW for giving assurances but failing to meet them. In view of this, the beleagured carrier suffered a whopping loss of nearly Rs 10,800 crore and even demanded Rs 8000 crore as compensation from the PW which could help Go First to meet its financial commitments/obligations. Besides, Go First had also coughed up Rs 5,657 crore to its lessors in the past couple of years comprising Rs 1,600 crore as lease rent for the non-operational grounded aircraft. Go First was also hampered by the PW reportedly not honouring the March 2023 award of the Emergency Arbitrator in Singapore to immediately provide the airline with at least 10 serviceable spare leased engines by April 2023 and 10 more per month till December 2023 to enable the carrier to resume full operations, financial rehab and survival. An aviation official said that after the NCLT processes the Go First application, it could appoint an interim Resolution Professional to take over and re-start operations, adding that a similar exercise in 2019 with another grounded private carrier failed to take-off. Though Go First's promoters have pumped in around Rs 3,200 crore in the past three years, coming to a total investment of nearly Rs 6,500 crore, plus support from the government's emergency credit line guarantee, all this failed to help as the airline kept incurring 100 percent of its operational costs and with a total loss of Rs 10,800 crores, it �succumbed'. In the NCLT plea, the 17-year-old airline which operated over 32 flights to 29 domestic and 10 international destinations, has sought several interim directions including restraining the lessors from taking back their aircraft, any adverse action by the DGCA, suppliers of essential goods-services, etc. Since launching low key operations in November 2005 as �GoAir', Go First gradually climbed up to become the fifth largest private carrier, consistently profitable and expanding till the PW �engine troubles' started from December 2020, hitting its operations and forcing it to ground in May 2023. However, the owner-promoters have already made it clear that they are keen to revive and not sell the venture or even exit this sector, which has witnessed many ups and downs with the practical �demise' of another 10 airlines in the past 10 years - or average one per annum! The Go First imbroglio came at a crucial juncture for the country's aviation sector which was soaring to pre-Covid 19 levels after the harsh pandemic and the ongoing peak summer holidays - and its full impact on the industry remains to be seen. (Quaid Najmi can be contacted at q.najmi@ians.in) SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/buried-toxic-waste-from-old-mining-operations-could-destroy-ecosystems-as-warming-thaws-the-arctic-permafrost/articleshow/100394167.cms">Buried toxic waste from old mining operations could destroy ecosystems as warming thaws the Arctic permafrost</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/53-of-largest-lakes-worldwide-losing-water-storing-capacity-due-to-global-warming-and-unsustainable-human-consumption/articleshow/100394475.cms">53% of largest lakes worldwide losing water storing capacity due to global warming and unsustainable human consumption</a>

Go First Gone: 11th private airline to 'drop' out of skies in a decade

The <keyword id="6354457" type="General" weightage="20" keywordseo="National-Company-Law-Tribunal" source="Orion">National Company Law Tribunal</keyword> (<keyword id="6355809" type="General" weightage="20" keywordseo="NCLT" source="Orion">NCLT</keyword>) on Thursday reserved its order on crisis-hit <keyword id="34984" type="General" weightage="20" keywordseo="airline" source="Orion">airline</keyword> <keyword id="11252024" type="General" weightage="20" keywordseo="Go-First" source="Orion">Go First</keyword>'s plea seeking voluntary insolvency resolution proceedings. A two-member bench headed by President Justice Ramalingam Sudhakar concluded the day-long hearing during which the Wadia group-controlled airline sought initiation of insolvency resolution proceedings and an interim moratorium on its financial obligations. However, aircraft lessors opposed the airline's request saying that insolvency proceedings cannot be initiated without hearing them. Senior Advocate Neeraj Kishan Kaul, representing Go First, said the objective of the Insolvency and Bankruptcy Code (<keyword id="192838" type="General" weightage="20" keywordseo="IBC" source="Orion">IBC</keyword>) is to ensure that a company is a going concern and not ground it. Cash-strapped Go First has cancelled flights till May 9. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/ola-electric-ather-to-refund-charger-cost-to-e-scooter-buyers/articleshow/99988313.cms">Ola Electric, Ather to refund charger cost to e-scooter buyers</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/amazon-sale-available-on-kindle-echo-speakers-and-fire-tv-sticks/articleshow/99987706.cms">Amazon Summer Sale 2023: Big discounts on Kindle, Echo speakers and Fire TV Stick</a>

NCLT reserves order on Go First's plea for insolvency resolution proceedings

Aviation regulator DGCA on Monday directed crisis-hit Go First to immediately stop bookings and sale of tickets directly or indirectly till further orders, according to a source. Besides, the watchdog has issued a show cause notice to the budget carrier under the relevant provisions of the <keyword id="414172" type="General" weightage="80" keywordseo="aircraft-rules" source="Orion">Aircraft Rules</keyword>, 1937, for its failure to continue the operation of the service in a safe, efficient and reliable manner, the source said. Earlier, the airline had suspended the sale of tickets till May 15 and has cancelled flights till May 12. The carrier has filed a plea for voluntary insolvency resolution proceedings before the <keyword id="6354457" type="General" weightage="80" keywordseo="national-company-law-tribunal" source="Orion">National Company Law Tribunal</keyword> (<keyword id="6355809" type="General" weightage="80" keywordseo="nclt" source="Orion">NCLT</keyword>), which has reserved its order. The source said the airline has been directed to stop the booking and sale of tickets directly or indirectly, with immediate effect and until further orders. The airline has been asked to submit its reply within 15 days of the receipt of the show cause notice, and further, a decision on the continuation of its <keyword id="16044429" type="General" weightage="80" keywordseo="air-operators-certificate" source="Orion">Air Operators Certificate</keyword> (<keyword id="212097" type="General" weightage="80" keywordseo="aoc" source="Orion">AOC</keyword>) will be taken on the basis of the reply submitted by it, the source added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/tcns-to-merge-with-aditya-birla-fashion-and-retail-limited-abfrl/articleshow/100070020.cms">TCNS to merge with Aditya Birla Fashion and Retail Limited (ABFRL)</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/paytm-brokerages-looking-up-to-59-growth-in-one97-communications/articleshow/100070477.cms">Paytm shares surge 5% on sustained Q4 growth, brokerages see up to 59% upside</a>

You Searched For "go first airlines" and got 6 results

Go First cancels all flights till May 28, citing operational reasons

ANI

National Company Law Appellate Tribunal to hear Go First lessors' plea today

ANI

Go First CEO meets DGCA official, civil aviation secretary for future course of action

ANI

Go First Gone: 11th private airline to 'drop' out of skies in a decade

IANS

NCLT reserves order on Go First's plea for insolvency resolution proceedings

PTI

DGCA issues show cause notice to Go First, asks airline to immediately stop sale of tickets

PTI

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