Mumbai / New Delhi, 29 June (Hindustan Times). The Directorate of Civil Aviation (DGCA) will examine the relevant documents before giving approval to resume operations of GoFirst, which is undergoing insolvency process. DGCA will examine the plan presented to revive the airline and also test its preparedness.
Aviation sources said on Thursday that senior representatives of the current GoFirst management have discussed various aspects of the airline’s revival plan with DGCA officials. The company has proposed to reduce the destinations of GoFirst domestic flights from 29 to 23 in the revival plan.
Shailendra Ajmera, appointed as the resolution professional for the insolvency process, and Kaushik Khona, the interim chief executive officer (CEO), made a detailed presentation about the revival plan to the DGCA officials. DGCA may give permission to operate flights again next week after examining the submitted document.
Flight operations of GoFirst airline have been suspended since May 3 following deepening financial crisis. During this, the airline had applied for voluntary insolvency process, on which it has also received approval from the National Company Law Tribunal (NCLT).
It may be noted that the budget airline owned by the Wadia family is in the process of voluntary insolvency resolution process. Lenders have committed interim funding of approximately Rs 450 crore to restart operations of GoFirst.
