Tuesday, July 11, 2023

DGCA analysing special audit report of Go First, says official

The Directorate General of Civil Aviation (DGCA) is analysing the report of the special audit of grounded Go First, which is undergoing insolvency resolution process, a senior official said on Tuesday.

Cash-strapped Go First, which had been flying for more than 17 years, stopped operations from May 3. The official said the watchdog is currently analysing the report of the special audit of Go First. The special audit was done to check the operational preparedness of Go First.

The audit, conducted from July 4 to 6, covered facilities of the carrier in Mumbai and Delhi.

Meanwhile, Go First and aircraft lessors are engaged in a legal battle before the Delhi High Court. According to the official, the high court's ruling in this regard would also be a key factor in terms of the proceedings under the Insolvency and Bankruptcy Code (IBC).

After taking into account the audit findings and other factors, the DGCA will decide on approving Go First's revival plan. On Monday, Go First's Resolution Professional Shailendra Ajmera invited Expressions of Interest (EoIs) from potential bidders for the grounded airline.

11/07/2023 PTI/Economic Times

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