News > Go First files for voluntary insolvency resolution proceedings after suspending flights on May 3, 4

Go First files for voluntary insolvency resolution proceedings after suspending flights on May 3, 4

02/05/2023 05:31 PM | Click to read full article

Indian low-cost carrier Go First has filed for voluntary insolvency resolution proceedings before the National Company Law Tribunal (NCLT), Delhi. The airline will temporarily halt operations on May 3 and May 4, due to a serious cash shortage, CEO Kaushik Khona of the company informed. Khona claimed that the airline had grounded 28 aircraft—more than half of its fleet—due to Pratt & Whitney's (P&W) failure to supply engines. Consequently, there is a financial crisis.

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