In a significant development, the Directorate General of Civil Aviation (DGCA) will meticulously examine the documents submitted by Go First, the budget carrier currently undergoing voluntary insolvency resolution proceedings, before granting permission to restart its operations. Senior representatives from Go First’s management recently engaged in a productive discussion with DGCA officials regarding the airline’s revival plan, according to reliable sources.
Go First, previously owned by the Wadia family, ceased its operations on May 3, causing concerns among passengers and stakeholders alike. Since then, the airline has been working towards restructuring and reviving its operations under the guidance of Resolution Professional Anooj Ajmera, backed by global consultancy firm EY, and Interim CEO Kaushik Khona.
The meeting between Go First’s representatives and DGCA officials, held in the national capital on Wednesday, focused on various aspects of the revival plan. During the discussion, Go First’s leadership presented a comprehensive and detailed outline of their strategy to revive the airline and ensure its long-term sustainability.
Sources close to the development revealed that DGCA will conduct an audit of Go First’s operational preparedness as part of the assessment process. This audit aims to evaluate the airline’s readiness to resume operations and ensure compliance with all necessary safety protocols and regulations. The DGCA’s thorough examination and operational audit signify the regulator’s commitment to upholding safety standards and ensuring a seamless revival for Go First.
The voluntary insolvency resolution proceedings initiated by Go First have provided an opportunity for the airline to restructure its operations and overcome the challenges it faced prior to the suspension of flights. This restructuring process is intended to enhance operational efficiency, optimize resources, and establish a sustainable business model. By engaging with DGCA and presenting their revival plan, Go First’s management demonstrates their dedication to reinstating the airline as a competitive player in the Indian aviation industry.
The airline industry has been severely impacted by the COVID-19 pandemic, with many carriers facing financial difficulties and operational disruptions. Go First’s revival plan reflects the determination of its management to navigate these challenging times and regain their position in the market. The involvement of EY, a reputed global consultancy firm, has further bolstered confidence in the restructuring process and the viability of Go First’s revival plan.
The DGCA’s scrutiny of the revival plan and operational preparedness is essential to ensure that all necessary measures are in place to guarantee passenger safety and satisfaction. The regulator’s role in overseeing the revival process is critical in maintaining the integrity and standards of the Indian aviation sector.
While the specific details of Go First’s revival plan have not been made public, the airline’s management has expressed confidence in their ability to successfully navigate the insolvency resolution proceedings and restart operations. The voluntary nature of the insolvency resolution allows the airline to work closely with stakeholders and chart a path towards financial stability.
