Monday, May 15, 2023

Air India, IndiGo, and Vistara seize opportunity amid Go First's flight cancellations

In response to Go First's cancellation of flights during the busy summer travel season, Air India and IndiGo have swiftly stepped in to seize the opportunity. Air India has ramped up its flight frequency on popular routes like Delhi-Srinagar and Delhi-Leh, while IndiGo has introduced new flights connecting Mumbai to these cities. Additionally, Vistara has also increased the frequency of its Delhi-Mumbai flights.

The enhanced flight frequencies are specifically aimed at meeting the high demand for air travel to Go First's popular leisure destinations. With the current holiday season underway, fares in these sectors are expected to rise. Jyoti Mayal, President of the Travel Agents Association of India, commented to ET, "If the capacity is not filled up, airfares will go up further."

Go First (formerly known as Go Air) was the fifth-largest airline in India based on scheduled departures. Its owners, the Wadia Group, filed for voluntary insolvency proceedings on May 3. "The insolvency proceedings are aimed at reviving the airline and not selling it," Go First's CEO Kaushik Khona told Reuters.

The National Company Law Tribunal (NCLT) accepted the petition on May 10, providing Go First with the privilege of a moratorium, safeguarding the airline from the retrieval of loans and outstanding dues by banks and lessors. Additionally, the NCLT mandated the commencement of the Corporate Insolvency Resolution Process, leading to the suspension of Go First's management.

15/05/2023 Moneycontrol

To Read the News in full at Source, Click the Headline


Post a Comment