Go First Tells Pilots To Resume Work From May 27, Training From Tomorrow
Listen to This Article
Cash strapped low-cost airline Go First wants to resume flying again by May 27, reported
Economic Timesciting sources.
According to a memo issued by the company to the pilots, beginning tomorrow, the airline will resume its pilot training programmes, ET said.
"Operations are likely to commence from 27 May. Since there has been a gap in flying operations, it has been decided to conduct an online ground refresher course, " said the memo.
A refresher course is required because the pilots haven't flown since May 3, said the company in the memo.
An industry executive, however, claimed that given the lessors' termination of the lease agreements, there are questions about the airline's ability to operate the aircraft. The bankruptcy court's order to put a moratorium on aircraft has been contested by the lessors in a court battle with the airline.
According to the report, sources have said that the airline has been working on a strategy to reopen with 20 planes but a smaller operation. “The airline has 27 aircraft which were operating till 2 May. It has 51 and 37 departure slots at the main airports of Delhi and Mumbai. There is a plan to resume operation as early as possible but it will be with a truncated schedule,” said source.
On May 10, the Wadia-group airline's insolvency petition was accepted, and Abhilash Pal of Alvarez and Marsal was chosen as the temporary resolution specialist.
According to a Go First executive, the promoters had chosen to invest roughly Rs 300 crore in the low-cost carrier in the final week of April, before it was forced to close due to a shortage of Pratt & Whitney engines.
Civil aviation regulator DGCA had earlier directed the airline to immediately stop ticket sales and issued a show-cause notice for its failure to provide efficient and reliable services. " The airline will have tosubmit a resumption plan to DGCA which will include the total number of aircraft and the destinations it intends to operate,” a government official said.
Titi Coles Legacy In Finance: Pioneering Diversity And Leadership
Titi Cole, one of the most senior Black women in the world of finance, recently exited her high-profile role at Citi. He... Read more
Rising Rates, Rising Challenges: Bankers Adapt To Serve Troubled Companies In A Changing Economic Landscape
As interest rates climb, troubled companies are facing heightened financial pressures, prompting them to seek assistance... Read more
The Elusive Nature Of Fraud Detection: Exploring The Auditor's Dilemma
In the intricate world of financial reporting, auditors serve as guardians of integrity, tasked with uncovering discrepa... Read more
The Battle For Depositors: US Lenders Ramp Up Efforts Amidst Rate Uncertainty
In the competitive landscape of the US banking sector, retaining depositors is paramount for lenders seeking to maintain... Read more
Beyond Capital: Unveiling The Complexities Of Bank Failure Prediction
In the realm of banking, the ability to predict and prevent failures is paramount for financial stability and consumer c... Read more
Central Banks And The Economic Horizon: Steering Through Uncertaintie
In the evolving landscape of global financial markets, the strategic role of central banks has come under intense scruti... Read more