Troubled airline GoFirst, owned by the Wadia Group, has filed for insolvency resolution proceedings as it struggles to restructure its debt and liabilities. The airline has canceled all flights till May 12, 2023.

The airline, formerly known as GoAir, has filed for voluntary insolvency resolution proceedings with the National Company Law Tribunal (NCLT) to restructure its debt and liabilities, which have been severely hit by the COVID-19 pandemic. have been affected.

Flights Cancellation and Refund Policy

GoFirst had suspended its flights for three days starting May 3, but later extended it to May 9 and then to May 12. The airline has announced that it will issue a full refund to the original mode of payment for the canceled flights.

DGCA, the aviation regulator, said that Go First had suspended the sale of tickets till May 15 and asked it to refund tickets for its cancelled flights.

The bankruptcy filing by GoFirst highlights fierce competition in India's airline industry, which is dominated by IndiGo, as well as the recent merger of Air India and Vistara under the Tata group. The airline's future is uncertain as a result of disputes with aircraft lessors.


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