NCLT to hear Go First plea for insolvency proceedings on Thursday; airfares likely to rise as airline cancels flights

    The Hawk
    May3/ 2023

    New Delhi/Mumbai: Go First, a financially troubled airline, has petitioned the National Company Law Tribunal (NCLT) to begin voluntary insolvency resolution proceedings on Thursday, raising concerns that tickets may spike on some routes as a result of flight cancellations.

    A day after the budget carrier cited grounding of more than half of the fleet due to non-supply of engines by Pratt & Whitney as the reason for its financial crunch, the US-based engine maker on Wednesday said it is complying with the arbitration order regarding the airline and continues to prioritise delivery schedules for all customers.

    Travellers who had reservations with Go First were understandably upset when the airline abruptly cancelled their flights, and the TAAI, an organisation representing travel agencies, raised worries about the potential loss of revenue owing to the crisis at the cheap airline. Beginning on Wednesday, flights will be cancelled for a total of three days.—Inputs from Agencies

    Categories :IndiaTags :NCLT Go First TAAI