Go First requested permission from the Directorate General of Civil Aviation (DGCA) to resume flights using 22 aircraft for the upcoming five months.
In its plan, Go First stated that it will resume operations with military charter flights before moving on to commercial flights. According to The Economic Times, which cited a copy of the plan, the airline management informed the DGCA that it has 340 pilots, 680 cabin personnel, and 530 engineers to operate 22 aircraft.
Go First informed the regulator that it needs ₹200 crore to resume operations and that it has access to ₹400 crore in funding under the government's emergency credit line guarantee scheme (ECLGS) as well as undrawn credit.
The airline is also in talks with lenders to set up ₹200 crore in temporary funding. This will be used to pay employees' salaries for April and May as well as pay suppliers.
Go First resolution professional Abhilash Lal appointed Kaushik Khona, the airline's CEO, to oversee daily operations and serve as the accountable manager. People with knowledge of the situation said the airline anticipates receiving DGCA permission for the proposal within a week.
Financial problems at Go First
According to court documents submitted by the airline in May, the company owes around ₹11,400 crore, of which ₹6,520 crore is owed to financial creditors, as reported by The Economic Times.
Go First insolvency proceedings
Go First has been grounded since May 3rd when it initiated voluntary insolvency proceedings before the Mumbai bench of the National Company Law Tribunal (NCLT). The airline blamed Pratt & Whitney (PW) engine supply chain delays for this action. When it ceased operations, the airline claimed that more than 50% of its aircraft were grounded owing to problems with engine supplies.