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Go First Crisis: The Indian aviation sector suffered a major setback when Go First Crisis, a company providing cheap air services in the country, applied to the National Company Law Tribunal (NCLT) for bankruptcy. Since then, NCLT and aviation regulator Directorate General of Civil Aviation (DGCA) have been making continuous efforts for the revival of the airlines. Now a big news is coming in this matter. According to the news of PTI, Go First Revival Plan has met the DGCA officials on Monday for the revival of the company. In this meeting the plan to revive the company was discussed.
DGCA gave 30 days time to the company
Cash Strapped Go First, which is facing financial crisis, has been given 30 days time by the aviation regulator Directorate General of Civil Aviation. In the meantime, the company will have to do complete planning from its revival plan to the operation of flights. It is worth noting that the company is making constant efforts to operate and restart its flights. At present, GoFirst has canceled the operation of all its flights till May 30, 2023.
Meeting between Go First and DGCA held on Monday
According to PTI news, DGCA had called the entire management team of GoFirst for a meeting on Monday. In this, the revival plan related to the company has been discussed. In this, the team has presented its roadmap from the operation of the flight to the revival of the company. The employees and all the shareholders of the company want to start the flight operations as soon as possible. In such a situation, the company is taking steps for this and things are going in the right direction. According to the report, in the next few days, DGCA will take a decision on the roadmap for Go First. It is worth noting that in order to keep its employees connected with the company, GoFirst has announced an extra Rs 1 lakh to the Captain and Rs 50,000 to the First Officer. This money will be given from June 2023.
The company stopped operating flights from May 3
Significantly, GoFirst had stopped operating its flights from May 3, 2023, citing cash crunch. The company blamed the bad engine of Pratt & Whitney, the American company that provided the engine, for the plight of the company. After this, Pratt & Whitney responded to GoFirst’s allegations and said that GoFirst has an old history of non-payment of loans. There is no fault of the company in this. Apart from this, GoFirst had applied to the National Company Law Tribunal (NCLT) to start its bankruptcy process, which was accepted on 10 May.
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