Go First files for voluntary insolvency resolution before NCLT
The Wadia Group-owned airline “Go First” made the announcement & said it will temporarily suspend flight operations on May 3 and 4 due to a severe fund crunch.

The announcement was made by the airline’s CEO Kaushik Khona shortly after the Wadia Group-owned carrier said it will temporarily suspend flight operations on May 3 and 4 due to a “severe fund crunch”. The flights will be restarted once the NCLT admits the application, Khona said.

Why Go first filed voluntary insolvency?
Explaining why it is facing a fund crunch, Khona told that the airline has grounded 28 planes, which is more than half of its fleet, due to the non-supply of engines by Pratt & Whitney .

The airline said in a statement: “GO FIRST has had to take this step due to the ever-increasing number of failing engines supplied by Pratt & Whitney’s International Aero Engines, LLC, which has resulted in GO FIRST having to ground 25 aircraft.

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