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Go First Green-lit To Resume Operations By DGCA Under Certain Conditions
Based on a notification, the DGCA has accepted the proposed resumption plan dated 28 June, subject to the outcome of pending writ petitions before the Delhi High Court and National Company Law Tribunal (NCLT)
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DGCA, the Indian aviation regulator, has approved the resumption plan of financially struggling airline Go First, but with certain conditions. According to a notification released on Friday, the DGCA has accepted the proposed resumption plan dated 28 June, subject to the outcome of pending writ petitions before the Delhi High Court and National Company Law Tribunal (NCLT).
In order to commence flight operations, Go First must comply with all relevant regulatory requirements to hold an Air Operator Certificate. The airline is also required to ensure the airworthiness of its aircraft engaged in operations. Prior to deploying any aircraft for operations, Go First must conduct a satisfactory handling flight. Additionally, any changes in the company that may affect the resumption plan submitted by the resolution professional must be promptly reported to the DGCA.
On a recent Twitter announcement, the company stated that all its flights have been cancelled until at least 23 July 2023, due to operational reasons. Earlier this month, the regulator had announced that a special audit of Go First facilities in Mumbai and Delhi would be conducted. Go First aims to restart flights with its fleet of 22 aircraft as soon as possible.
The DGCA has requested the resolution professional (RP) to submit the proposed flight schedule, considering the available resources such as airworthy aircraft, qualified pilots, cabin crew, AMEs, and flight dispatchers, along with the necessary arrangements and interim funding required to resume services.
Go First's RP, Shailendra Ajmera, has invited Expressions of Interest (EoIs) from potential bidders for the grounded airline. The deadline for submitting EoIs is 9 August, and the final list of prospective resolution applicants will be announced on 19 August, according to the public notice.
Currently, the airline has approximately 4,200 employees, with a revenue of Rs 4,183 crore from operations in the financial year ending March 2022. Its liabilities stand at about Rs 11,463 crore.
Early in May, the airline operator filed for voluntary bankruptcy before the NCLT, citing delays from Pratt & Whitney, a US-based engine maker, which led to the grounding of a portion of its fleet, and resulting in its financial difficulties.