Go First Airlines will temporarily suspend flights from May 3 to 5 due to a severe fund crisis, informed the airlines chief Kaushik Khona on Tuesday.
The company has also filed for voluntary insolvency resolution proceedings before the National Company Law Tribunal (NCLT), Delhi.
Speaking to PTI, Khona said the airline has grounded 28 planes, more than half of its fleet, due to the non-supply of engines by Pratt & Whitney (P&W). This has resulted in a fund crunch.
"It is an unfortunate decision (filing for voluntary insolvency resolution proceedings) but it had to be done to protect the interests of the company," he said.
The airline will also submit a detailed report to the aviation regulator Directorate General of Civil Aviation (DGCA).
Flights will be suspended on May 3 and 4. Once the NCLT admits the application, then the flights will be restarted, Khona said. Go First has more than 5,000 employees.
DGCA issues show-cause notice to airlines
The aviation regulator of the country issued a show cause notice to Go First after the airline canceled fresh bookings from 3-4 May.
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