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Go First Airlines remains inactive, receiving a 90-day moratorium extension from NCLT for insolvency resolution. Failure may lead to liquidation by Feb 4, 2024.
The National Company Law Tribunal (NCLT) on Monday issued notices to the Committee of Creditors of Go First and insolvency regulator IBBI over a plea to refund Rs 597.54 crore to around 15.5 lakh passengers who booked tickets for travel on and after May 3.
Go First flights remain cancelled till 31 July due to operational constraints. The airline filed for bankruptcy in May.
Go Airlines (India) Ltd, which is currently undergoing an insolvency process, has received claims worth ₹23,777 crore from operational and financial creditors.
With the revival plan submitted, the Go First airline management is awaiting the nod from the Directorate General of Civil Aviation (DGCA) for restarting the flight operations