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The Wadia Group-owned airline filed for voluntary insolvency before the Delhi bench of the National Company Law Tribunal (NCLT) on May 2 and Go First's plea was admitted by the tribunal on May 10. (File image)
Crisis-struck Go First Airlines on Monday announced that its flights will remain cancelled until June 22, 2023, i.e., Thursday due to operational reasons.
In a tweet, cash-strapped Go First said, “Due to operational reasons, Go First flights until 22nd June 2023 are cancelled.”
This comes after an Indian Express report earlier today stated that banks are planning to conduct a forensic audit of the accounts of Go First to assess if there was any diversion of funds.
The Wadia Group-owned airline filed for voluntary insolvency before the Delhi bench of the National Company Law Tribunal (NCLT) on May 2 and Go First’s plea was admitted by the tribunal on May 10.
The embattled airline has stopped flying since May 3.
As of April 28, 2023, Go First Airlines’ total outstanding debt to lenders, including Bank of Baroda, Central Bank of India, IDBI Bank and Deutsche Bank, stood at Rs 6,521 crore