Thursday, May 11, 2023

TAAI Says Might Move NCLT Against Go First If There Is No Viable Solution For Dues

Travel agents' grouping TAAI on Wednesday said it will consider moving the NCLT against Go First in case the airline does not provide a viable solution to clear its dues estimated to be worth around Rs 900 crore.

     The Travel Agents Association of India (TAAI) has more than 2,500 members.     

On Wednesday, the National Company Law Tribunal (NCLT) admitted the airline's plea seeking voluntary insolvency resolution proceedings.

     "We are waiting for announcements from the airline. In case, there is no viable solution with respect to clearing our dues, we will consider moving the NCLT," TAAI President Jyoti Mayal told PTI.

     The tribunal has suspended Go First's board and has appointed an interim resolution professional to manage the affairs of the airline.

     In a letter to Civil Aviation Minister Jyotiraditya Scindia on Monday, TAAI said the travel agents need to be protected and laws regarding refunds need to be reconsidered.

The travel agents pay advances to low-cost airlines and all tickets are issued from the credit shell created by the airline.

11/05/2023 PTI/Outlook

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