NCLT to hear Go First’s insolvency plea today

Representative Image
Representative ImageSpecial arrangement

New Delhi, May 3: The National Company Law Tribunal (NCLT) will hear cash-strapped carrier Go First’s insolvency plea on Thursday (May 4).

On Tuesday, the airline said that it has filed for insolvency resolution as it can no longer continue to meet its financial obligations, blaming US company Pratt & Whitney’s “faulty engines” for grounding of 50 per cent of its fleet.

Go First also announced the suspension of all its flight operations from May 3 to May 5.

Its CEO Kaushik Khona confirmed on Tuesday that the airline has filed an application for voluntary insolvency resolution proceedings before the NCLT.

GoFirst owes financial creditors Rs 6,521 crore, its bankruptcy filing showed.

Related Stories

No stories found.
Greater Kashmir