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Business News/ News / India/  Executives of cash-strapped Go First airline discuss revival plans with DGCA officials

In the ongoing process of the formulation of a revival plan for Go First Airlines, the company's top executives discussed the revival plans with DGCA officials in Delhi on Monday, reported PTI citing sources.

The cash-strapped airline is trying hard to come out of the situation and resume its operation. Last week, the Directorate General of Civil Aviation (DGCA) asked the grounded airline to submit its revival plan within 30 days. As of now, the flight operations are suspended till May 30.

Hit by the faulty operations of its Pratt & Whitney engines in its flights, Go First Airlines filed a petition for voluntary insolvency resolution proceedings on May 2. The airline cited the non-delivery of Pratt & Whitney engines, which affected the company's flight operations to a huge extent. The company stopped its flight operation on May 3. The insolvency plea of the Go First airline was admitted by the National Company Law Tribunal (NCLT) on May 10.

Also Read: Go First bankruptcy: Rival airlines Air India, IndiGo increase flights frequencies

"DGCA had called the entire management team of Go First on Monday to discuss the resumption plan. At the meeting, the team presented the road map for the revival of operations," a source told PTI on the condition of anonymity.

The PTI source also said that all the company employees and stakeholders are striving to see the airline resume its operations. The airline will come up with a way forward, as things are moving forward in the right direction, PTI quoted the source.

Some chances Go First air-planes will remain grounded for a few more days, as there is still some time for DGCA officials to take a final decision on the revival road map submitted to it.

For the time being, Go First airline offered its captains 1 lakh per month as a‘ retention allowance’, above their salary, as per a communication sent out to them on Sunday.

"First officers, in addition to their present salary, will get an additional 50,000 per month as retention allowance," it said. These allowances will be paid from June.

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Updated: 29 May 2023, 08:17 PM IST
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