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Despite approval for a restart with interim funding, challenges persist, forcing an extension of the expression of interest deadline to September 8. Go First battles technical and financial turmoil in its recovery efforts

500 Go First pilots jump ship amid deepening crisis: Report

Despite approval for a restart with interim funding, challenges persist, forcing an extension of the expression of interest deadline to September 8. Go First battles technical and financial turmoil in its recovery efforts

In a damning blow to the beleaguered Go First airline, a recent report revealed that a staggering 500 out of its 600 pilots have jumped ship to other carriers.
The embattled airline, which has been grappling with a multitude of challenges, has been left reeling as it faces a severe shortage of experienced flight crew.
Since its suspension of operations in May, Go First has found itself entangled in a web of financial woes, with the airline reportedly failing to meet salary obligations to its employees.
This ongoing crisis has culminated in a mass exodus of pilots, cabin crew, and aircraft maintenance engineers, severely impacting the airline's operational capacity.
The report, released by CNBC TV18, has cast a grim shadow over Go First's prospects, revealing that the airline has seen a staggering loss of over 1,200 employees since July 10. This figure paints a bleak picture for the airline, which has witnessed a rapid decline in its workforce from 4,200 employees in July to a mere 3,000 at present.
Alarming projections suggest that this downward spiral is far from over. The report indicates that approximately 500 to 600 employees are currently in the process of quitting Go First, serving out their notice periods. This could potentially shrink the airline's employee count to as few as 2,500 by mid-September.
Despite these dire circumstances, Go First had sought to restart its operations in July, gaining approval from the Directorate General of Civil Aviation (DGCA).
The regulatory body laid out stringent conditions, including securing interim funding, for the airline to resume flights. Reportedly, banks have committed a sum of ₹450 crore to facilitate Go First's resurgence.
To salvage its future, Go First has extended the deadline for expressions of interest in its operations until September 8. Also Watch: <a href="https://www.editorji.com/business-news/go-first-crisis-150-employees-to-resign-due-to-unpaid-salaries-1692265389844">Go First crisis: 150 employees to resign due to unpaid salaries</a>

Around 150 Go First employees plan to resign due to unpaid salaries in 2 weeks, amidst the airline's struggle to restart operations. Financial woes, employee departures, and regulatory challenges add to its predicament

Go First crisis: 150 employees to resign due to unpaid salaries 

Around 150 Go First employees plan to resign due to unpaid salaries, amidst the airline's struggle to restart operations. Financial woes, employee departures, and regulatory challenges add to its predicament

Around 150 employees of Go First, the grounded airline, will reportedly tender their resignations within the next two weeks due to unpaid salaries, according to a recent report by Moneycontrol. While the airline has been attempting to recommence operations, it has been taking steps to retain its workforce. The staff members, including 30 pilots and 50 cabin crew members, have been grappling with a severe financial setback. Salaries for the months of May, June, and July have remained unpaid, prompting employees to actively seek alternative job opportunities outside the company.
The situation has been further complicated by an ongoing moratorium on financial obligations and asset transfers following insolvency resolution proceedings.&nbsp;
Lessors find themselves unable to deregister and repossess aircraft that were previously leased to the airline. Several lessors, including Accipiter Investments Aircraft 2 Limited, EOS Aviation 12 (Ireland) Limited, Pembroke Aircraft Leasing 11 Limited, and others, have turned to the courts, labeling the denial of deregistration by the DGCA as "illegitimate."
The insolvency resolution process was initiated voluntarily by Go First on May 10, a move affirmed by the NCLAT on May 22. In response, the IRP was appointed to suspend the company's board. Subsequently, numerous lessors sought to reclaim the 45 leased planes from the carrier.
Go First ceased its flight operations on May 3, 2023, as it grapples with the complex web of financial challenges, employee resignations, and regulatory obstacles.
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The company announced the cancellation on its official Twitter account

Go First crisis: flight cancellation extends further till July 25

The company announced the cancellation on its official Twitter account

Cash-strapped Indian airline, Go First announced extending the cancellation of its scheduled flights till July 25.
In a statement, the airlines said, &ldquo;We regret to inform you that due to operational reasons, Go First flights scheduled till 25th July 2023 have been cancelled. We apologize for the inconvenience caused by the flight cancellations," the airline added.
&ldquo;As you are aware, the company has filed an application for immediate resolution and revival of operations. We will be able to resume bookings shortly. We thank you for your patience," it further tweeted.
The announcement comes days after the company said that the flights were cancelled till July 16.
Also Read: <a href="https://www.editorji.com/business-news/gold-silver-rates-today-24-july-2023-check-prices-in-mumbai-delhi-chennai-kolkata-1690175513011">Gold, Silver Rates Today 24 July 2023: Check Prices in Mumbai, Delhi, Chennai, Kolkata</a>
Earlier, Indian aviation regulator DGCA accepted the resumption plan submitted by crisis-hit Go First. However, the airline will have to comply to certain conditions.
Cash-strapped budget carrier Go First filed a petition for voluntary insolvency resolution proceedings on May 2, citing its inability to carry out operations due to non-delivery of engines by the US engine maker Pratt &amp; Whitney.
The plea of the airline, which has not flown since May 3, was admitted by the National Company Law Tribunal (NCLT) on May 10.

The Wadia Group owned airline has time until the 23rd of June to submit a revivial plan to the aviation regulator. Post this, DGCA will review the plan and take a call on whether the airline is in a position to restart operations. 

Go First extends flight suspension till 28 May

Go First extends flight suspension till 28 May
Go Air announces full refund to passengers
Go First had on 2 May filed for involuntary insolvency&nbsp;
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The Wadia Group owned airline has time until the 23rd of June to submit a revivial plan to the aviation regulator. Post this, DGCA will review the plan and take a call on whether the airline is in a position to restart operations.&nbsp;

Crisis hit airline Go First has once again extended the suspension of its flights. In a notification, the airline says that flights will remain suspended until the 28th of May and that passengers who had made bookings will be refunded.&nbsp; The Wadia group owned airline, on May 2nd, filed for voluntary insolvency proceedings.&nbsp; Meanwhile, the Directorate General of Civil Aviation (DGCA) on May 24 asked the airline to submit a comprehensive plan for the revival of its operations. Go First has 30 days till 23rd of June to submit its revivial plan.&nbsp;
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