Friday, May 19, 2023

Go First looking at three fleet-size options to restart operations

Go First will seek approval early next week to resume flights with three fleet-size options, depending on how many aircraft lessors are allowed to take back.

The airline will approach the civil aviation ministry and the Directorate General of Civil Aviation (DGCA) with its plans to restart operations, people aware of the development said.

“Three sets of plans have been prepared by Go First, which involves restarting operations with a fleet of seven planes, 15 planes, and 20 planes,” one person said. The plans will be submitted once the airline gets clarity on how many planes it can operate, the person added.

The National Company Law Appellate Tribunal (NCLAT) is expected to pass its order on May 22 on petitions filed by three aircraft lessors against Go First's voluntary insolvency resolution proceedings and the decision to place a moratorium on the airline's fleet.

Interim resolution professional Abhilash Lal of Alvarez & Marsal, who was appointed by the National Company Law Tribunal on May 10 to oversee the company’s operations during the proceedings, has approached Delhi airport to resume flights using some of Go First's slots, another person said.

One option for Go First is to restart operations with seven planes as a charter service between Delhi and Leh, Delhi and Srinagar, and Delhi and Thoise air force base in Jammu & Kashmir.

If the airline can restart commercial operations with 15 planes, it will target the Delhi-Leh, Delhi-Srinagar, Delhi-Goa, Delhi-Lucknow, and Delhi-Jaipur routes, officials said.

19/05/2023 Yaruqhullah Khan/Moneycontrol

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