Go First Extends Flight Cancellations Till May 12, Awaits NCLT's Order
Listen to This Article
Go First on Friday evening extended flight cancellations till May 12, a day after it had suspended fresh bookings till May 15. The airline had initially cancelled flights till May 5 before extending it to May 9.
The extension comes as the National Company Law Tribunal reserved its order on Go First’s plea for an interim moratorium.
The Directorate General of Civil Aviation (DGCA) had on Thursday asked Go First airline to refund passengers, who have been affected by ticket cancellations, according to regulations
As Go First awaits the NCLT ruling on its voluntary insolvency resolution plea, the tribunal is set to hear on Monday two petitions seeking insolvency proceedings against the crisis-hit airline.
With liabilities of Rs 11,463 crore and a financial crunch, the Wadia group-owned airline has sought voluntary insolvency resolution proceedings as well as an interim moratorium on financial obligations.
After hearing the plea on Thursday, the National Company Law Tribunal (NCLT) reserved its order. The tribunal is set to hear two insolvency petitions filed against the airline on Monday, according to lawyers.
(With inputs from agencies)
Coutts Sets Scope On New Continent
Coutts steps into private marketsCoutts, the private bank best known for serving Britain’s wealthiest families and the... Read more
From Cypherpunk To Citadel
How Crypto Moved from the Wild West to the Mainstream Financial SystemA long-form analysis of Bitcoin's journey from fri... Read more
ACB Securities: Building Scale, Trust & Innovation
ACB Securities: Building Scale, Trust and Innovation in Vietnam’s Capital MarketsACB Securities (ACBS) is emerging as ... Read more
War Risk Returns To Markets As VIX Surges
For most of the past year, global markets behaved as though geopolitical risk had largely disappeared. Inflation was eas... Read more
Stablecoin The Future Of Currency?
The payments system is undergoing a quiet but consequential shift. What was once the exclusive preserve of central banks... Read more
BoE Loosens Capital Rules
The Bank of England has taken a significant step towards easing post-crisis regulation by lowering its estimate of the c... Read more