Go First Faces Financial Crunch, Grounds Flights For 3 And 4 May

Go First, owned by Wadia group, will halt flights on 3 and 4 May due to financial difficulties, says its chief Kaushik Khona.

The low-cost airline has applied for insolvency resolution proceedings with National Company Law Tribunal (NCLT), Delhi, reports PTI.

Khona told PTI that due to non-supply of Pratt and Whitney engines, the airline has grounded more than half of its fleet, which amounts to 28 planes, causing a financial shortage.

The airline has notified the government of the recent events and intends to provide a comprehensive report to the aviation regulator, the Directorate General of Civil Aviation (DGCA).

As per Khona's statement, flights are set to be suspended on 3 and 4 May, and will resume once the NCLT accepts the application.

Go First has a workforce of over 5,000 employees.