Go First's submits 6-month revival plan to DGCA; plans to resume services on these routes
Go First planned to resume operations on the Pune, Bagdogra, and Goa routes. In its resumption plan to DGCA, Go First has also offered to deploy two aircraft to start Delhi-Srinagar and Delhi-Leh chartered flights immediately.
PremiumThe cash-strapped domestic airline company Go First has submitted their six-month revival plan to Directorate General of Civil Aviation (DGCA), according to reports. The interim resolution professional (IRP) has submitted the plan to the airline regulator, according to a report published on 2 June.
Go First plans to resume operations with its fleet of 26 operational aircraft and 400 pilots, according to a report on Financial Express.
It further stated that Go First planned to resume operations on the Pune, Bagdogra, and Goa routes. In its resumption plan to DGCA, Go First has also offered to deploy two aircraft to start Delhi-Srinagar and Delhi-Leh chartered flights immediately.
Go First has cancelled all flights since May 3 and moved a plea with the NCLT to begin voluntary insolvency proceedings.
The National Company Law Tribunal (NCLT) has appointed an Interim Resolution Professional (IRP), tasked with managing the crisis-hit Go First. On 10 May, the National Company Law Tribunal (NCLT) had admitted the airline’s voluntary insolvency resolution petition and appointed Abhilash Lal as the IRP to manage the carrier.
The airline company also stated several other updated in their report to DGCA
The airline told the DGCA that oil marketing companies have extended their support to help Go First, Financial Express reported citing people familiar with the matter.
Prior to the airline's insolvency plea, oil marketing companies had put their operation on cash and carry terms, which means the airline had to clear its dues daily.
The airline's operations have been put on hold till 4 June. In addition to oil marketing companies, the revival plan also cites support of 15 of the 20 major travel agents with regard to ticketing services.
Go First Resumption Plan
According to Financial Express, Go First airline has said that it can deploy two aircraft to start Delhi-Srinagar and Delhi-Leh chartered flights immediately upon receiving approval from the DGCA.
The airline plans to resume scheduled services on the Pune, Bagdogra, and Goa routes. The airline also said it will be able to deploy eight to 10 aircraft for the scheduled services.
The Delhi High Court has reserved judgment on a batch of petitions filed by lessors of Go First, seeking deregistration of their aircraft.
Go First salary restructure
A few days ago, Bloomberg had reported that the crisis-hit Go First airline had planned to raise salaries of captains by ₹1,00,000 rupees a month and by ₹50,000 for first officers as it tries to salvage its operations after filing for insolvency on May 3.
The additional pay, which the airline calls a retention allowance, will come into effect on 1 June, according to an email to pilots seen by Bloomberg News. It will also be offered to those who have left the company but are willing to withdraw their resignations by 15 June.
The airline, which rebranded as Go First two years ago, said it will also soon reintroduce a “longevity bonus" for long-serving staff.
"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!
