Go First files for voluntary insolvency before National Company Law Tribunal

India’s turbulent aviation sector will likely see another player go belly up with Go First of the Wadias filing for voluntary insolvency before the National Company Law Tribunal (NCLT).

The budget carrier said it is cancelling all flights on May 3, 4, and 5 and will refund the full fares to the passengers.

The Directorate General of Civil Aviation (DGCA) has questioned the cancellation and issued a show-cause to the airline. Go First has been asked to submit its response within 24 hours.