Cash-strapped Indian airline Go First has suspended its flights from May 3 to May 5 over pending dues owed to oil marketing companies. The Wadia group airline has informed the Directorate General of Civil Aviation that it will not be able to operate flights, sources in the know said.
Go First has been battling financial headwinds for some time now. It has been in a cash-and-carry arrangement with the oil companies. This means that the carrier has to pay for the fuel each day and is not getting any credit from the suppliers.
