Mumbai, May 3: The budget Indian airline, Go First filed for bankruptcy on Tuesday, May 2, after suffering a massive cash crunch. The airline said it had grounded its aircraft and suspended all its flights for at least three days, starting today, May 3. “We regret to inform that due to operational reasons, Go First flights scheduled for 3rd, 4th and 5th May 2023 have been cancelled. We apologize for the inconvenience caused by the flight cancellations,” Go First said in a statement.
The low-cost said it has filed an application for voluntary insolvency resolution proceedings before the National Company Law Tribunal (NCLT). The airline has blamed its engine partner, Pratt and Whitney for the immense cash loss. “Go First has had to take this step due to the ever-increasing number of failing engines supplied by Pratt & Whitney’s International Aero Engines, LLC, which has resulted in GO FIRST having to ground 25 aircraft (equivalent to approximately 50 per cent of its Airbus A320neo aircraft fleet) as of 1 May 2023,” the Indian airline said in statement, calling out Pratt & Whitney. Go First Files for Bankruptcy, Pratt & Whitney Official Says Airline Has 'Lengthy History of Missing Financial Obligations'.
Meanwhile, there is panic growing among the passengers who booked flights on May 3, 4, and 5. However, the airline has cleared the air about whether they will receive a refund. The airline has provided a detailed FAQ showing how customers can get rebates for cancelled flights. "A full refund will be issued to the original mode of payment shortly. We acknowledge the flight cancellations might have disrupted your travel plans and are committed to providing all the assistance we can," said Go First. Flight Ticket Price Hike: Airfares Likely To Rise As Cancellations Reduce Capacity, Says TAAI After Go First Cancelled All Its Flights.
Go First Flight Tickets Booked via Website:
Go First Tickets Booked via Online Travel Aggregators:
(The above story first appeared on LatestLY on May 03, 2023 04:26 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).