India's cheapest airline drowned, GoFirst files for Voluntary Insolvency | Jagran Business- Watch Video

Domestic airline company Go First, owned by the Wadia Group, has applied for Voluntary Insolvency Resolution (Voluntary Insolvency Resolution) proceedings before the National Company Law Tribunal (NCLT) on Tuesday. Kaushik Khona, CEO of Go First Airline has given this information. Let us tell you that earlier on Tuesday, the airline had announced the cancellation of flights scheduled to fly on May 3 and 4.

The troubles of the airline company Go First, which is facing shortage of funds, have increased. According to the company's CEO Kaushik Khona, has applied for bankruptcy resolution process in NCLT. He said that due to non-supply of engines by Pratt & Whitney (P&W), the airline has grounded more than half i.e. 28 aircraft.

According to the report, CEO Kaushik Khona said that this is an unfortunate decision, but it had to be done to protect the interests of the company. The airline has informed the government about the developments and will also submit a detailed report to the aviation regulator Directorate General of Civil Aviation (DGCA).