Cash-strapped Go First, which is undergoing voluntary insolvency resolution process, plans to restart operations with 26 planes and 152 daily flights, and has submitted the revival plan to aviation regulator DGCA, according to a source. Besides, the airline is in discussions with lenders for funds to meet the working capital requirements.
Prior to grounding on May 3, the airline was operating around 200 flights daily. The airline stopped flying from May 3 and is yet to pay some senior level executives and pilots. On the condition of anonymity, the source said the carrier’s salary outgo is around Rs 30 crore per month and currently, the workforce is around 4,700 as many have put in their papers in one month.
