New Delhi: Go First faced another setback after one of its bidders, EaseMyTrip, announced the withdrawal of its bid. The defunct airline had 54 aircraft in its fleet that have been grounded since May 3 last year. Earlier this month, the Directorate General of Civil Aviation (DGCA) de-registered all its 54 aircraft. (Representative Photo) {{^userSubscribed}} …
NEW DELHI : The Supreme Court came down heavily on SpiceJet for failing to clear its outstanding dues to Credit Suisse and ordered the low-cost airline to settle all pending payments by 15 March. The court on Monday directed SpiceJet to pay $1.25 million to Credit Suisse, along with monthly installments. Additionally, SpiceJet’s chairman and …
Go First has been grounded since May 3 (File). New Delhi: SpiceJet promoter Ajay Singh has submitted a bid – with Busy Bee Airways Pvt Ltd – to acquire the troubled Go First carrier, the airline said Friday. The bid, filed earlier today, is a “significant strategic move (with the) potential to reshape the landscape …
In a respite for bankrupt airline Go First, the National Company Law Tribunal (NCLT) on Tuesday approved a 60-day extension for its moratorium, aiming to give the airline additional time to finalize its corporate insolvency resolution process (CIRP). This extension, stretching from February 4 to April 4, extends Go First’s timeline to 330 days to …
MUMBAI : Lenders to Go First have set January 31 as the deadline for financial bids to acquire the airline, two banking sources said on Sunday. Go First filed for bankruptcy protection in May but lenders have more recently been considering liquidating the airline after failing to secure new investors. “Banks have decided to give …
NEW DELHI :Lessors of Go First have told the Delhi High Court that they have not received any records related to aircraft maintenance from the insolvent airline’s resolution professional since May, or been allowed to physically inspect its assets. Resolution, or insolvency, professionals are hired by lenders to run insolvent firms. Go First’s RP is …
The days of revenge travel and pent-up demand driving air traffic in India seem to be over. Data from Indian civil aviation regulator Directorate General of Civil Aviation (DGCA) suggests that the festive months are seeing a slowdown in air travel growth, which experts attribute primarily to higher fares. Data from travel portals suggests that …
After extending the insolvency resolution timeline of the beleaguered Go First by another three months, lenders to grounded carrier are hinging their hopes on Naveen Jindal-backed Jindal Power Ltd (JPL) for revival of the company. Jindal Power Ltd was earlier a subsidiary of Jindal Steel & Power Ltd (JSPL). Last month, JPL submitted the sole …
Image Source : PTI Go First extends flight cancellation Cash-strapped Go First airline extended its daily flights till November 30 due to “operational reasons”. In an official release, the airline also apologised for the inconvenience caused by the flight cancellations. “We acknowledge the flight cancellations might have disrupted your travel plans and we are committed …
Image Source : PTI Grounded Go First cannot use ‘G8’ designator code Bankrupt Go First is now not eligible for the two-letter designator code ‘G8′, with global airlines’ grouping IATA blocking the code as the airline has not been flying for the past few months. The International Air Transport Association (IATA), which provides two-letter designator …