Go First Seeks Around Rs 600 Crore As Additional Funds For Operations: Report

As a new twist in the Go First crisis, the cash-strapped airline has reportedly asked for additional funds for its operations. The request that has been made was reportedly done at a lenders meeting on Wednesday.

According to a Reuters report, Go First is seeking around Rs 400-600 crore as additional funds from lenders. In order to resume and continue operations, Go First has made this request and lenders too, are expected to evaluate these proposals in the next 48 hours.

Since Go First would require the approval of the Directorate General of Civil Aviation (DGCA) to resume operations, some plans are reportedly underway. As per a source of the publication, Go First plans to resume operations in July and operate 78 daily flights with 22 aircrafts. 

However, another source of the publication added that Go First airlines’ plan of resumption is dependent on a lot of factors including regulatory approvals. As of now, Go First has cancelled all flights till June 25.

Go First has reportedly also filed an application for immediate resolution and revival of operations. This comes weeks after it filed for voluntary insolvency in the National Company Law Tribunal (NCLT). Every time that Go First cancels its flights, it also mentions that it would resume its operations soon. 

Due to Go First crisis, the Indian aviation space has also witnessed a surge in airfares on all routes where Go First flights were plying. Due to the sudden surge, even the Ministry of Civil Aviation had to intervene and address the issue by asking carriers to keep the fares optimum.