Karnataka News Network
Buisness

The suspension of flight operations by Go First is extended until May 26

Crisis-hit Invoking operational concerns, Go First on Wednesday prolonged the suspension of flight operations until May 26 and expressed optimism that it would soon be ready to begin reservations.
As of May 3, Go First, which is going through insolvency resolution procedures, ceased flying. Additionally, the cash-strapped airline has been told to halt reservations until further directives by aviation regulator DGCA.
The low-cost airline said on its website that “flights until May 26th 2023 are cancelled” owing to operational concerns.
“A complete refund will soon be processed and provided to the original method of payment… As you are aware, the business has submitted a request for a quick settlement and resumption of activities. Bookings will soon be available again,” it stated.
On May 10, the airline's voluntary plea insolvency resolution procedures were accepted by the National Company Law Tribunal (NCLT). Abhilash Lal has been chosen to serve as the carrier's Interim Resolution Professional (IRP).
A few lessors have also appealed the NCLT's ruling to the National Company Law Appellate Tribunal (NCLAT).
A claim management website called “gofirstclaims.in/claims” has been made available for Go First's Corporate Insolvency Resolution Process (CIRP).

Related posts

Shein, China’s $60 billion fashion retailer, files for an IPO in the US: Report

US Federal Reserve Increases Regulation of Crypto and Stablecoin Activities

PSUs warn stock markets that the government has the authority to nominate directors or face penalties

Valiant Laboratories IPO: View Final Subscription Status and GMP Today

At the Prado Unveiling Event, Toyota Teases 2 Upcoming Land Cruiser Models; see Details

Due to a decline in income and other variables, Indian states are expected to fail their capital expenditure objectives this fiscal year