Go First case: The high court pronounced judgement on petitions by several lessors seeking de-registration of their planes by aviation regulator DGCA so that they could take them back from the airline.
The announcement has come amid reports that SpiceJet may lay off at least 1,000 employees in the coming days as the airline works to significantly reduce costs and streamline operations of its depleted aircraft fleet.
Earlier on May 2, Go First cancelled its flights and filed for voluntary bankruptcy before the National Company Law Tribunal (NCLT), alleging delays on the part of a US-based engine maker.
IATA assigns the airline designator code to companies to use for reservations, schedules, timetables, telecommunications, ticketing, cargo documentation, legal, tariffs and/or other commercial/traffic purposes, according to IATA website.
Go First had invited Expressions of Interest (EOI) from potential buyers in July, but the deadline for submitting EOIs has been extended to September 8. This has further frustrated employees, who are worried about their future.
Go First update: On May 2, Go First cancelled its flights and filed for voluntary bankruptcy before the National Company Law Tribunal, alleging delays on the part of a US-based engine maker, Pratt & Whitney.
Go First news updates: On May 2, Go First cancelled its flights and filed for voluntary bankruptcy before the National Company Law Tribunal (NCLT), alleging delays on the part of a US-based engine maker, Pratt & Whitney, for its inability to promptly meet obligations.
Go First had stopped all flights since May 3 citing operational reasons and was undergoing insolvency resolution process. The DGCA has conducted a special audit of of the airline on July 4-6.
Go first update: Senior advocate Ramji Srinivasan appearing for the resolution professional of Go First told the NCLT today that the airline will challenge the high court order.
Go First update: The direction of Delhi HC came while hearing a bunch of petitions filed by several aircraft lessors seeking direction to DGCA to deregister the planes leased to Go First Airlines.
In a statement, the Directorate General of Civil Aviation (DGCA) said that the "special audit" will be conducted from July 4-6, 2023.
Sources on Wednesday said DGCA will examine documents submitted by Go First related to the revival plan and will also conduct an audit on operational preparedness before allowing the carrier to restart operations.
Go First update: Aircraft of the cash-strapped carrier have been grounded since May 3.
Go First update: Earlier, the airline said that operations would remain cancelled till June 22 (Thursday). Aircraft of the cash-strapped carrier have been grounded since May 3.
Go First crisis: The airline operator had in early May filed for voluntary insolvency and since then its operations were kept stalled.
In a major blow to its passengers, the low-cost airline stopped flying on May 3 and is undergoing voluntary insolvency resolution proceedings before the National Company Law Tribunal.
Go First airlines cited operational reasons as it extended the suspension of its flight operations till May 30.
Go First update: Directorate General of Civil Aviation advised the airline on May 24 to submit within a period of 30 days a comprehensive restructuring plan for a sustainable revival of operations, the source at the regulator said.
On Tuesday (May 24), a senior official at the Directorate General of Civil Aviation said the airline has submitted its response to the regulator's show cause notice, indicating that it is working on the details of a plan to resume flights at the earliest.
Earlier this month, the Go First airline announced bankruptcy and suspension of all its flights due to the shortage of engines for its fleet.
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