Airfares likely to rise as Go First cancellations reduce capacity: TAAI
1 year, 7 months ago

Airfares likely to rise as Go First cancellations reduce capacity: TAAI

The Hindu  

No-frills carrier Go First filing for insolvency proceedings and cancelling flights is bad for the airline industry as the move will reduce capacity and could push airfares in certain routes, Travel Agents Association of India said on May 3. Bogged down by an acute financial crunch due to grounding of more than half of its fleet amid P&W engine supply woes, Go First has cancelled flights for three days starting May 3. we lost crores of rupees in Kingfisher Airlines, in Jet Airways and we have another one going into insolvency,” TAAI President Jyoti Mayal told PTI. In the coming weeks, fares are likely to go up.” Regarding booked tickets, she said it is the company that has to provide refunds and if it goes into insolvency, the rules are different.

Taai  reduce  flights  fares  airfares  likely  rise  insolvency  travel  cancellations  capacity  flying  taai  mayal  proceedings  going  industry

History of this topic

Court ruling takes the wind off GoFirst insolvency resolution
7 months, 3 weeks ago

Court ruling takes the wind off GoFirst insolvency resolution

New Indian Express  

The Delhi High Court’s recent order allowing the Directorate General of Civil Aviation to process the applications filed by several lessors for deregistration of 54 planes is a body blow to the resolution process of Go First. Go First has been going through the insolvency resolution process since May 10 last year. The airline’s process is being overseen by resolution …

GoFirst's last stand with two suitors in the wings: Understanding airline insolvency in India
8 months, 1 week ago

GoFirst's last stand with two suitors in the wings: Understanding airline insolvency in India

Hindustan Times  

Earlier this week, the National Company Law Tribunal extended the moratorium period on Go First’s dues and leased aircraft by another 60 days giving the grounded airline a final chance to get new owners. Go First has two suitors — a consortium of SpiceJet chief Ajay Singh and Busy Bee Airways and Sharjah-based Sky One — who have shown interest …

Go Airlines| NCLT Delhi Permits Go Airlines To Resume Operations
1 year, 4 months ago

Go Airlines| NCLT Delhi Permits Go Airlines To Resume Operations

Live Law  

The National Company Law Tribunal, New Delhi Bench, comprising of Shri Mahendra Khandelwal and Shri Rahul Bhatnagar, while adjudicating a petition filed by Go Airlines Limited, has permitted Go Airlines to operate the leased aircrafts in order to maintain the company’s status as a going concern. Accordingly, the Lessors filed an application under Section 60 of IBC before the NCLT …

Go First gets claims worth ₹23,777 crore from creditors
1 year, 5 months ago

Go First gets claims worth ₹23,777 crore from creditors

Live Mint  

Go Airlines Ltd has received claims totaling ₹23,777 crore from both operational and financial creditors as part of its ongoing insolvency process, according to two banking sources who spoke to Reuters. The resolution professional overseeing Go Airlines is yet to authenticate the validity of the claims and did not promptly respond to a request for comment from Reuters via email. …

Go First flights cancelled until July 16
1 year, 5 months ago

Go First flights cancelled until July 16

Live Mint  

Go First flights have been cancelled until July 16. We thank you for your patience.” “Kindly contact our Customer Care Centre on 1800 2100 999 or write to us at [email protected] to let us know how we can help you,” Team Go First further said. On July 12, the Delhi High Court permitted crisis-hit Go First airline to carry out …

GoFirst cancellations continue, flights now scrapped till July 10
1 year, 5 months ago

GoFirst cancellations continue, flights now scrapped till July 10

Live Mint  

GoFirst announced a fresh tranche of flight cancellations on Tuesday as it remains embroiled in insolvency proceedings. "We regret to inform you that due to operational reasons, Go First flights scheduled till 10th June 2023 have been cancelled. Cash-strapped GoFirst airline have been grounded since 3 May and flights had previously been cancelled till 28 June.dgca The aviation regulator Directorate …

Go First extends flight cancellations till June 30
1 year, 5 months ago

Go First extends flight cancellations till June 30

India TV News  

Go First update: Go First, an airline facing a crisis, has announced that its scheduled flight operations will continue to be cancelled until June 30 for operational reasons. Early this May, Go First filed for bankruptcy at the National Company Law Tribunal and suspended its flight operations due to rising losses, primarily due to delays in the delivery of Pratt …

Go First cancellations continue, flights now scrapped till June 28
1 year, 6 months ago

Go First cancellations continue, flights now scrapped till June 28

Live Mint  

GoFirst announced a fresh tranche of flight cancellations on Saturday as it remains embroiled in insolvency proceedings. Flights have now been cancelled till June 28 - marking nearly two months of travel disruptions. "We regret to inform you that due to operational reasons, Go First flights scheduled till 28th June 2023 have been cancelled. Aircraft of the cash-strapped carrier have …

GoFirst flights grounded for almost 2 months after it filed 'insolvency' | READ
1 year, 6 months ago

GoFirst flights grounded for almost 2 months after it filed 'insolvency' | READ

India TV News  

Go First update: Crisis-hit airline Go First on Wednesday announced that its scheduled flight operations will remain cancelled till June 25 due to operational reasons. Earlier, the airline said that operations would remain cancelled till June 22. Early this May, Go First filed for bankruptcy at the National Company Law Tribunal and suspended its flight operations due to rising losses, …

GoFirst cancels flight operations till June 25 due to operational reasons
1 year, 6 months ago

GoFirst cancels flight operations till June 25 due to operational reasons

Hindustan Times  

Crisis-hit airline Go First on Wednesday announced that its scheduled flight operations will remain cancelled till June 25 due to operational reasons. Earlier, the airline said that operations would remain cancelled till June 22. GoFirst cancels flight operations till June 25 due to operational reasons Aircraft of the cash-strapped carrier have been grounded since May 3. "We regret to inform …

Go First Extends Flight Cancellation Until June 22nd, Here's Why
1 year, 6 months ago

Go First Extends Flight Cancellation Until June 22nd, Here's Why

News 18  

In a surprising turn of events, Go First, one of India’s prominent airlines, has announced the cancellation of all flights until the 22nd of June 2023. Due to operational reasons, Go First flights until 22nd June 2023 are cancelled. pic.twitter.com/BuKj9YvrSo— GO FIRST June 19, 2023 This cancellation provides a logistical challenge for the impacted passengers. The cancellation of flights up …

Go First extends flight cancellations till June 16
1 year, 6 months ago

Go First extends flight cancellations till June 16

Deccan Chronicle  

NEW DELHI: Crisis-hit airline Go First on Tuesday announced that its scheduled flight operations will remain cancelled till June 16, adding that a full refund will be issued to the passengers. "We regret to inform you that due to operational reasons, Go First flights scheduled till June 16, 2023, have been cancelled. We apologize for the inconvenience caused by the …

Go First now cancels all scheduled flights till June 4
1 year, 6 months ago

Go First now cancels all scheduled flights till June 4

The Hindu  

Crisis-hit Go First Airlines on Tuesday informed that its scheduled flight operations will remain cancelled till June 4, adding that a full refund will be issued to the passengers. The Directorate General of Civil Aviation last week advised Go First Airlines to submit a comprehensive restructuring plan for a sustainable revival of operations. A senior DGCA official earlier said that …

Crisis-hit Go First further cancels its flights till June 4, assures full refund
1 year, 6 months ago

Crisis-hit Go First further cancels its flights till June 4, assures full refund

Hindustan Times  

Crisis-hit Go First Airlines on Tuesday informed that its scheduled flight operations will remain cancelled till June 4, adding that a full refund will be issued to the passengers. Go First earlier filed for insolvency resolution proceedings in the National Company Law Tribunal The airline operator had recently filed for voluntary insolvency. The Directorate General of Civil Aviation last week …

Go Air pilots offered extra 100,000 Rupees a month to stay: Report
1 year, 6 months ago

Go Air pilots offered extra 100,000 Rupees a month to stay: Report

Hindustan Times  

Go Airlines India Ltd. plans to raise salaries of captains by 100,000 rupees a month and by 50,000 rupees for first officers as it tries to salvage its operations after filing for insolvency on May 2. Go’s captains currently earn about 530,000 rupees a month on average, according to data on AmbitionBox, compared with 750,000 rupees at SpiceJet Ltd., which …

Cash-strapped Go First Airlines to suspend flights till May 30, offers full refund to passengers
1 year, 6 months ago

Cash-strapped Go First Airlines to suspend flights till May 30, offers full refund to passengers

Firstpost  

Indian airline carrier Go Air announced on Saturday that all of its operations will remain suspended till the end of the month assuring that passengers will receive a full refund on their previous bookings. pic.twitter.com/norPCJLYD1 — GO FIRST May 26, 2023 Meanwhile, the Directorate General of Civil Aviation has instructed Go Air to submit a comprehensive plan of restructuring for …

Cash-strapped Go First cancels all flights till May 30, assures ‘full refund’
1 year, 6 months ago

Cash-strapped Go First cancels all flights till May 30, assures ‘full refund’

Hindustan Times  

Go First airlines on Saturday announced that its flight operations will remain cancelled till May 30 adding that a full refund will be issued to the passengers. The official media account of Go First airlines took to Twitter and said, "Due to operational reasons, Go First flights until May 30, 2023, are cancelled. "We regret to inform you that due …

All flights of Go First canceled till May 26, how to get refunds and change flights
1 year, 7 months ago

All flights of Go First canceled till May 26, how to get refunds and change flights

Op India  

On Wednesday, May 17, crisis-hit Go First Airlines announced that the cancellation of its flight operations has been extended till May 26 due to “operational reasons”. In a notice published on the website of Go First Airlines, it stated that the company has filed an application for immediate resolution and revival of operations adding that it may resume bookings soon. …

Cash-strapped Go First extends suspension of flight operations till May 26
1 year, 7 months ago

Cash-strapped Go First extends suspension of flight operations till May 26

Hindustan Times  

Crisis-hit Go First on Wednesday extended the suspension of flight operations till May 26, citing operational reasons and expressed hope that it will be able to resume bookings shortly. The National Company Law Tribunal admitted the airline's voluntary plea insolvency resolution proceedings on May 10 Go First, which is undergoing insolvency resolution proceedings, stopped flying from May 3. The National …

Go First to resume flight operations from May 27: Report
1 year, 7 months ago

Go First to resume flight operations from May 27: Report

Live Mint  

Go First, which recently filed for bankruptcy, is reportedly planning to resume flight operations from May 27, according to insiders familiar with the low-cost airline's strategy. Go First earlier announced the cancellation of all flights until May 26 due to financial losses resulting from persistent engine issues, leading to unviable flight operations. While initial expectations hinted at a partial resumption …

Explained: Why Go First crisis could increase cost of air travel in India
1 year, 7 months ago

Explained: Why Go First crisis could increase cost of air travel in India

India Today  

The admission of beleaguered low-cost airline Go First’s voluntary insolvency plea by the National Company Law Tribunal has upset global aircraft lessors – a development that could significantly increase the cost of operations for airlines, and subsequently increase the cost of flying. Following the NCLT’s decision to accept Go First’s voluntary insolvency plea, the world’s second-largest aircraft lessor, SMBC Aviation …

Go First's insolvency flight leaves trail of concerns for aircraft lessors
1 year, 7 months ago

Go First's insolvency flight leaves trail of concerns for aircraft lessors

Firstpost  

At least 50 requests to take back as many leased planes from two Indian airlines in less than two weeks. Cash-strapped Go First being admitted for insolvency resolution proceedings on a voluntary plea and subsequent moratorium has left a trail of concerns and uncertainties for aircraft lessors with respect to India, the world’s third-largest aviation market. Regional airline Star Air’s …

Go First crisis will not change Indian aviation's growth trajectory: Boeing
1 year, 7 months ago

Go First crisis will not change Indian aviation's growth trajectory: Boeing

Firstpost  

US aircraft maker Boeing on Friday said the crisis at Go First will not change the trajectory of the Indian civil aviation market in terms of growth and macro trends while legislative clarity on aircraft leasing aspects will provide more comfort to the lessors. Against the backdrop of insolvency proceedings being initiated against cash-strapped Go First, Boeing India President Salil …

Go First insolvency: What happened so far with the domestic carrier?
1 year, 7 months ago

Go First insolvency: What happened so far with the domestic carrier?

Hindustan Times  

After more than a week of uncertainties, the skies seem to be more clear for the cash-starved airline Go First. Following is the brief chronology of developments in the last nine days. Go First filed for insolvency resolution proceedings in the National Company Law Tribunal. Read here: NCLT initiates Go First airline’s plea to initiate insolvency resolution May 2 - …

NCLT initiates insolvency proceedings for Go First
1 year, 7 months ago

NCLT initiates insolvency proceedings for Go First

Hindustan Times  

The National Company Law Tribunal on Wednesday admitted Go First’s voluntary plea under the Insolvency and Bankruptcy Code and awarded the airline bankruptcy protection. Go First has suspended sale of tickets till May 15 The airline had last week filed for insolvency resolution proceedings in the NCLT while also announcing the suspension of the sale of tickets till May 15. …

Go First cancels all flights till 19 May
1 year, 7 months ago

Go First cancels all flights till 19 May

Live Mint  

Due to operational reasons, Go First flights are cancelled until 19th May, according to the airline. “We regret to inform that due to operational reasons, Go First flights scheduled till 19th May 2023 have been cancelled. An Indian tribunal on Wednesday granted bankruptcy protection to Go Airlines Ltd, a move that will help the country's fourth-largest carrier attempt to revive …

Go First crisis: Lessors seek deregistration of 36 planes
1 year, 7 months ago

Go First crisis: Lessors seek deregistration of 36 planes

Live Mint  

Lessors Monday urged the Directorate General of Civil Aviation to deregister 13 more Go First aircraft to secure their assets. Earlier, on Thursday they has applied for deregistration of 23 planes of the cash-strapped Indian airline before the insolvency process begins.The lessors have so far sought the deregistration of 36 planes of Go First. The Go First today requested the …

Go Airlines asks tribunal to urgently pass order on insolvency plea
1 year, 7 months ago

Go Airlines asks tribunal to urgently pass order on insolvency plea

The Hindu  

Go Airlines on Monday asked the National Company Law Tribunal to urgently pass an order on its insolvency plea, citing lessors' efforts to take back planes, per the court hearing. On Monday, Go First lawyers told the tribunal to urgently pass an order on the airline's insolvency plea, saying its lessors had moved to repossess the planes even as bankruptcy …

Travel agents struggle with refunds as Go First extends cancellations
1 year, 7 months ago

Travel agents struggle with refunds as Go First extends cancellations

Hindustan Times  

A day after budget carrier Go First, which has filed for bankruptcy, extended flight cancellations by another three days to May 12, the Travel Agents Association of India on Saturday said that its members couldn’t refund passengers without the airline refunding them. “Hundreds of travel agents across the country have placed substantial deposits with your airline in a credit shell …

Cash-strapped Go First cancels all flights till May 12, promises refunds
1 year, 7 months ago

Cash-strapped Go First cancels all flights till May 12, promises refunds

Hindustan Times  

Cash-strapped airline Go First on Friday announced the suspension of flights till May 12. On Thursday, Go First had announced that it had suspended flights till May 9. On Tuesday, Go First filed for insolvency resolution proceedings in the National Company Law Tribunal. "Go First has intimated that they have suspended sale of their flights till 15 May 2023 and …

Insolvency petitions against Go First to be heard on May 8
1 year, 7 months ago

Insolvency petitions against Go First to be heard on May 8

Hindustan Times  

As Go First awaits the NCLT ruling on its voluntary insolvency resolution plea, the tribunal is set to hear on Monday two petitions seeking insolvency proceedings against the crisis-hit airline. Go First airline With liabilities of ₹11,463 crore and a financial crunch, the Wadia group-owned airline has sought voluntary insolvency resolution proceedings as well as an interim moratorium on financial …

GoFirst crisis: Wadia Group seeking a one-time settlement offer
1 year, 7 months ago

GoFirst crisis: Wadia Group seeking a one-time settlement offer

Live Mint  

The Wadia Group, which owns the struggling airline Go First, is expected to request a settlement with banks that would involve creditors accepting a significant reduction in the amount owed, The Financial Express has reported. This means that the airline itself initiated the insolvency proceedings instead of creditors taking the debtor to the National Company Law Tribunal for debt recovery. …

NCLT reserves order on Go First's plea for insolvency resolution proceedings
1 year, 7 months ago

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

The Hindu  

The National Company Law Tribunal on May 4 reserved its order on crisis-hit airline Go First'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. The Directorate General of Civil …

Cash-strapped Go First stops ticket sales till May 15, DGCA orders full refunds
1 year, 7 months ago

Cash-strapped Go First stops ticket sales till May 15, DGCA orders full refunds

Hindustan Times  

Days after it filed for voluntary insolvency before the National Company Law Tribunal, cash-strapped airline Go First has informed the Directorate General of Civil Aviation that it has suspended the sale of tickets till May 15. In a statement, the aviation regulator referred to the showcause notice issued to the airline, and said that Go First had intimated that they …

Go First Files for Bankruptcy: What's Next for the Cash-Strapped Airline?
1 year, 7 months ago

Go First Files for Bankruptcy: What's Next for the Cash-Strapped Airline?

The Quint  

Air India and Vistara are the other two A320neo family operators in India, and are powered by engine maker CFM. Go First said that grounded aircraft "due to P&W's faulty engines" grew from seven percent of its fleet in December 2019 to 50 percent in December 2022, costing it Rs 10,800 crore in lost revenue and additional expenses. "It is …

Airfares may go up as Go First goes off air, files for insolvency
1 year, 7 months ago

Airfares may go up as Go First goes off air, files for insolvency

Deccan Chronicle  

NEW DELHI: No-frills carrier Go First filing for insolvency proceedings and cancelling flights is bad for the airline industry as the move will reduce capacity and could push airfares in certain routes, travel agents' grouping TAAI said on Wednesday. Bogged down by an acute financial crunch due to grounding of more than half of its fleet amid P&W engine supply …

With Go First’s fate up in air, staff head for exits
1 year, 7 months ago

With Go First’s fate up in air, staff head for exits

Live Mint  

Employees of Go First airline, which filed for bankruptcy on Tuesday, are wasting no time seeking new job opportunities as rival airlines expand operations, unlike employees of grounded Jet Airways, who held on to the futile hope of a revival for more than four years. Adding to the uncertainty surrounding Go First’s future, parent Go Airlines Ltd has fallen behind …

Go First flights grounded as airline suspends operations
1 year, 7 months ago

Go First flights grounded as airline suspends operations

The Hindu  

More than 20 flights of beleaguered airline Go First were grounded on Wednesday at the Kempegowda International Airport. The airline, which has filed for bankruptcy with the National Company Law Tribunal and also suspended flights scheduled between May 3 and 5, operates between 20 and 25 flights daily from Bengaluru. Mounting loss However, with the suspension of flights due to …

Go First moves NCLT, says total dues to creditors at over ₹11k crore
1 year, 7 months ago

Go First moves NCLT, says total dues to creditors at over ₹11k crore

The Hindu  

Go First approached the National Company Law Tribunal on Wednesday and sought the admission of its insolvency plea. According to Reuters, the airline in its petition before the court said that its total liabilities to all creditors stood at ₹11,463 crore, which includes dues to banks, financial institutions, vendors and aircraft lessors. The petition lists Central Bank of India Ltd., …

Go First announces cancellations, furious flyers vent out anger
1 year, 7 months ago

Go First announces cancellations, furious flyers vent out anger

Live Mint  

The sudden decision by bankrupt Go First to cancel its flights for May 3 and 4 on Tuesday left several flyers, who had booked their flights with the budget airline, confused and enraged. The Mumbai basedairline Tuesday filed for voluntary insolvency resolution proceedings before the National Company Law Tribunal, Delhi due to serious cash shortage. Flyers who had booked their …

Go First files for voluntary insolvency. What happened to the airline?
1 year, 7 months ago

Go First files for voluntary insolvency. What happened to the airline?

Hindustan Times  

Air Carrier Go First Airways on Tuesday filed for insolvency resolution proceedings in the National Company Law Tribunal. Go First said it has paid ₹ 5,657 crores to lessors in the last two years of which approximately ₹ 1600 crore was paid towards lease rent for non-operational grounded aircraft The Wadia Group-owned air carrier with more than 5,000 employees has …

Go First to suspend flights on May 3, 4 amid severe fund crunch
1 year, 7 months ago

Go First to suspend flights on May 3, 4 amid severe fund crunch

Deccan Chronicle  

MUMBAI: Wadia group-owned Go First will temporarily suspend flights on May 3 and 4 amid severe fund crunch, the airline's chief Kaushik Khona said on Tuesday. The budget carrier has also filed an application for voluntary insolvency resolution proceedings before the National Company Law Tribunal, Delhi. Speaking to PTI, Khona said the airline has grounded 28 planes, more than half …

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