Loss became a problem for Go First, airlines canceled their flights on 3 and 4 May

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Go First Suspend Flights: Go First Airline has canceled its flights on 3 and 4 May. In such a situation, the passengers who have booked tickets in GoFirst Airlines, may have to face huge difficulties. According to media reports, the company has taken this decision due to non-payment of dues to petroleum companies. The airline is facing severe cash crunch.

GoFirst airline looking for investor

Apart from this, the company has had to ground more than half of the aircraft due to recurring issues and supply of Pratt & Whitney engines. These engines supply power to the Airbus A320 Neo aircraft. This airline of Wadia Group is looking for a strategic investor and is in talks with potential investors.

The airline is on cash and carry mode

According to media reports, if an official of the Oil Marketing Company is to be believed, the airline is on cash and carry mode. In this case, it will have to pay daily for the number of flights it operates. It has been agreed that if the payment is not made, the vendor can stop the business. It is clear that it is also going towards the same track that Kingfisher once went. No official statement has come out in this matter from Go First.

Total 61 aircraft in the fleet of GoFirst

According to the information revealed, GoFirst had 30 planes grounded till March 31, of which lease payments are outstanding on nine planes. According to the airline’s website, GoFirst has a total of 61 aircraft in its fleet, of which 56 are A320 Neo and 5 are A320CEO. Earlier, since July 2022, when it had to field its aircraft for the first time, GoFirst’s market share has come down. The market share narrowed to 8 per cent in February carrying 963,000 passengers from a high of 11.1 per cent in May 2022 while carrying 1.27 million passengers. The fall in the number of passengers has affected the financial condition of GoFirst.

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