Budget airline Go First on Monday extended its flight cancellation till July 27, 2023, citing "operational reasons." Grounded since May 3 this year, the cash-trapped carrier had earlier extended its flight cancellation till July 25.
"We acknowledge the flight cancellations might have disrupted your travel plans and we are committed to providing all the assistance we can," Go First said in a statement.
Last week, Reuters reported citing sources that the airline has received claims worth $2.9 billion from operational and financial creditors so far as part of the carrier's ongoing insolvency. This is in line with procedural requirements under the law which allow every creditor a right to payment and remedy by submitting claims if a company is under bankruptcy.
Earlier, CNBC-TV18 had reported that the lenders have decided to proceed with interim funding for the company after the aviation regulator DGCA gave a green signal to Go First to resume operations.
This move comes after the Directorate General of Civil Aviation (DGCA) gave its green light for the airline to resume operations, albeit with certain conditions.
24/07/2023 CNBC TV18
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