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Bankrupt Go First Submits 6-month Revival Plan to DGCA

Go First submitted a 6-month revival plan to the DGCA on June 2, saying it is ready to resume operations.

Go First Airline’s Interim Resolution Professional (IRP) submitted a six-month revival plan to the Directorate General of Civil Aviation (DGCA) on June 2. Its operations are currently suspended till June 4. Although, the airline is saying it is ready to resume operations with 26 operational aircraft and 400 pilots on its rolls.

As per the revival plan, 15 of the 20 major travel agents have shown support regarding ticketing services. Oil marketing companies also put their operation on cash and carry terms, which means Go First will have to clear its dues daily.

Go First said the DGCA would audit its preparedness before allowing it to resume operations. The airline said that upon receiving approval, it could immediately deploy two aircraft to start Delhi-Srinagar and Delhi-Leh chartered flights and 8 to 10 aircraft for the scheduled services. The airline also plans to resume scheduled Pune, Bagdogra, and Goa services. 

The main challenge before the airline is retaining its aircraft as lessors have approached the DGCA to deregister 45. However, Delhi High Court has reserved judgment on these petitions filed by lessors. 

The carrier offered a monthly retention allowance of Rs 50,000 to first officers and Rs 100,000 to captains, whose monthly average salary is Rs 530,000.

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