Go First airline filed for insolvency, plans to restart its operations

Go First filed for insolvency with the National Company Law Tribunal on May 2, 2023, with a loss of Rs 56 billion being incurred by the banks. As of April 28, 2023, its total debt to financial creditors is Rs 65.21 billion. Ad­ditionally, the airline cancelled all its scheduled flight operations on May 3 and May 4, 2023 without any prior information due to which a show-ca­use notice was issued by the Directorate General of Civil Aviation. Repor­tedly, the airline is planning to restart operations from May 24, 2023.