[fhdowntheline]

Those airlines which acquire the Airbuses- would they re engine them? No point in getting stuck with the same issues!

[volkman10]

DGCA gets new requests to de-register 9 Go First planes, takes total to 45 aircrafts.

Directorate General of Civil Aviation (DGCA) has received new requests from lessors to de-register nine more aircraft. With requests for thirteen aircraft made on May 8 and 23 aircraft on May 4, the total aircraft de-registration requests stand for 45 aircraft so far.

Link

[volkman10]

Go First verdict: Cash-strapped airline goes into bankruptcy protection, CEO Khona hails historic order.

India’s bankruptcy court on May 10 pronounced its order on crisis-hit Go First’s petition, filed under Section 10 of Insolvency and Bankruptcy Code (IBC). The airline has sought an interim moratorium order from the NCLT, which reserved its order on the matter on May 4. GoFirst had moved the tribunal for voluntary bankruptcy citing failure by Pratt and Whitney to supply engines.

- Cash-strapped airline gets 330 days for completion of CIRP

- NCLT has ordered that earlier management of Go First stands suspended

- Suspended management to extend all support necessary to IRP to maintain status of airline as going concern

- As per tribunal's order, no employees are to be laid off

- NCLT directs for IRP to pursue the arbitration proceeding

- for initiation of Corporate Insolvency Resolution Process (CIRP), directs for appointment of insolvency resolution process (IRP)

- Directs for IRP to maintain status of airline as going concern

- Go First management is diverted to deposit Rs 5 crore with IRP to meet expenses

-NCLT has admitted GoFirst's plea for voluntary insolvency and for initiation of CIRP proceedings.

- NCLT has granted GoFirst protection under moratorium from recovery by lessors and lenders.

[BoneCollector]

As per this news in Moneycontrol, GoAir plans to resume flights from 24th May although with a reduced number. They may start with 23 aircrafts to begin with.

Budget airline Go First is set to resume flights on May 24, according to internal sources. The airline has developed a business plan to restart operations with 23 aircraft, although on a smaller scale than before, media reports said on May 10.

Go First has access to 51 departure slots at Delhi's main airport and 37 at Mumbai's main airport, but its initial schedule will be reduced.

[SedateGuy]

Originally Posted by BoneCollector

As per this news in Moneycontrol, GoAir plans to resume flights from 24th May although with a reduced number. They may start with 23 aircrafts to begin with.

NCLT has just put off the inevitable. I don't see people queuing up to book tickets on Go anytime soon, and if that doesn't happen might as well down your shutters now.

[i74js]

Originally Posted by SedateGuy

NCLT has just put off the inevitable. I don't see people queuing up to book tickets on Go anytime soon, and if that doesn't happen might as well down your shutters now.

Appropriate ticket pricing can bring back desired footfalls, it is a matter of just 2 - 3 days, once the planes are in sky bookings will happen. More so its tourist season, go air will resume trunk routes with higher passenger load.

Let’s wish them success. We already have business class given out to Tata's in a platter (Vistara and Air India), let's hope the low-cost space remains distributed across players.

Another important thing is the refund against cancelled tickets is in the form of credit shells, this means the pessengers have not received money in the accounts, it is just the eligibility to use the money on go air flights. People will be using the credit at first available opportunity.

[chinkara]

Originally Posted by SedateGuy

NCLT has just put off the inevitable. I don't see people queuing up to book tickets on Go anytime soon, and if that doesn't happen might as well down your shutters now.

Agree completely. The new Bankruptcy code had been launched with much fanfare, but the performance has been abysmal. See the real estate cases pending for long. The biggest issue is as Nitin Gadkari often says - the system is stuffed with bureaucrats who do not understand time value of money.

This IRP bit is also very poorly structured. It is in the IRP's interest to drag things out and get more fees. Make it fixed price and see lightening fast decisions. Also there have been too many instances of promoters coming back in a new garb and IRPs playing a questionable role.

This is just kicking the can down the road. Auction assets - pay out whatever feasible to creditors / employees and move on. Let Tata and Indigo (or Akasa) get the slots and the aircraft - let there be a bid to get value, but quickly.

As a small business, we were owed 15 L by a now bankrupt firm. Frankly, 5 L payment 1.5 years back would have been more useful to us than 7 L now. Most professionals would tell you the same thing. There is no magic money tree that will make a bankrupt company suddenly viable.

Originally Posted by i74js

Another important thing is the refund against cancelled tickets is in the form of credit shells, this means the pessengers have not received money in the accounts, it is just the eligibility to use the money on go air flights. People will be using the credit at first available opportunity.

This is a good point. However, this is short term. The legality of the credit shell will also be questioned once they are back. If I paid for service X which you could not provide, can you force me to take service Y which I do not need? Imagine people who booked tickets for a holiday or a wedding or a job interview - what will they do with this?

New bookings - forget it. We had stopped booking Go and Spice almost 6 months back as a corporate policy. Many people will take trains over Go now. Else, they have to offer substantial discounts. Can an inefficiently run, smaller airline make money with fares at significant discount to Indigo? They'll bleed more.

[nagr22]

This post is not about Go Air but a realization I had about how little of what we pay the airlines actually go to their hands! No wonder airlines are going bankrupt left, right and center!

Here is a breakdown of charges for my upcoming flight from Bangaloew to Chennai


I knew taxes and fees on Air travel was huge but didn't realize it is almost 200% of the base fare! Even a local bus operator earns more than this per passenger and I am really wondering how Akasa Air makes money by getting 539Rs from me!

[raksrules]

Still there is no update from Go First about flights post 26th May. Usually they would update the last date until cancelled about 10 days before but now we are on 23rd and still their website keeps showing flights cancelled until 26th May.
This is causing lot of issues as my family has flight on 05th June and I need to know whether it is cancelled or not so I can rebook asap.

Anyone got any other update?

[volkman10]

Go First likely to resume back-end operations by month-end.

There is a possibility that the airline may resume domestic flights on high-volume routes such as Delhi-Mumbai, Delhi-Bengaluru, and Delhi-Chennai.

Link

[V.Narayan]

Originally Posted by volkman10

Go First likely to resume back-end operations by month-end.

Link

Seems like an attempt that will crash land again. The engine problem and stand off with P&W continues unchanged. The incompetent shareholders and top echelons of management continue unchanged. Only thing that is changing, apparently is using the weight of the law to stop the creditors and owners of the ariplanes from exercising their rights of recovery & repossession. So other people's money will be used to kick start. Unless the Wadia's are removed from the management through a court process of reorganization I don't see this story playing out well. Basically, the Wadia younger clan continues to exercise control & leadership {or lack thereof} and their penny pinching policies using the money of others. Best of luck to them. If I were an employee at Go First I wouldn't bet on these bozos.

The DGCA caused unfathomable damage to Indian aviation 8 years ago with the Kingfisher fiasco by placing hurdles in the way of international lessors taking back their airplanes. They willfully violated the Cape Town Convention that protects lessors of airplanes. They thought that the way their writ runs in India they can ride rough shod on international agreements till ICAO read them the riot act. Now they are working against the interests of the lessors who carry the bulk of the financial risk in an airline operation and damaging our credibility once again.

[itwasntme]

Originally Posted by nagr22

Here is a breakdown of charges for my upcoming flight from Bangaloew to Chennai
Attachment 2452057

A couple of points:
While the surcharges seem high, in your particular case it is because they are largely flat (i.e. absolute) amounts, and not ad valorem on the base fare. A better example would be to take a longer flight with a higher base fare and then compare.

Again, the true reason behind the BLR-Chennai rates flatlining is because of the success of the Vande Bharat & Shatabdi combo + huge excess capacity being dumped into this sector by all airlines, and especially Akasa and Indigo. Here is a unusually well-written article from ToI:

https://timesofindia.indiatimes.com/...8.cms?from=mdr

Originally Posted by V.Narayan

So other people's money will be used to kick start.

Well said! Further, I would seriously like to meet the insane and/or desperate travelers buying advance tickets on Go First. Maybe they should institute a fly-first-pay-when-you-land model.

[ninjatalli]

Originally Posted by itwasntme

Again, the true reason behind the BLR-Chennai rates flatlining is because of the success of the Vande Bharat & Shatabdi combo + huge excess capacity being dumped into this sector by all airlines, and especially Akasa and Indigo.

I really wonder what is the benefit of taking a flight over a Shatabdi or VB train for this route. Time-wise the train is faster and so is cost-wise. One key benefit I guess is the availability of flight options for different times across the day. And of course the "status" of taking the flight over a train. Anyway all this competition is good for the consumer.

Originally Posted by nagr22

Here is a breakdown of charges for my upcoming flight from Bangaloew to Chennai

Good catch. But not everything goes to the government. Iirc the UDF part goes to the firm managing the airport (and we know who does that for a lot of airports in India). It will be interesting to see how much the UDF has increased over recent years.

[raksrules]

Cancellations are now extended until 28th.
I am supremely pissed that they are just increasing the "cancelled till" in such a staggered manner and that too in short bursts. We have a 5th June flight and now I am contemplating just rebooking as I cannot wait until say 3rd June to rebook.

Also, I follow their twitter and seems no one has got any refund at all yet.

Check this news too..

https://www.businesstoday.in/industr...829-2023-05-25

https://www.cnbctv18.com/aviation/go...y-16763341.htm


Now this, it further throws plans of early revival in limbo.

[deep_bang]

Originally Posted by raksrules

Cancellations are now extended until 28th.
I am supremely pissed that they are just increasing the "cancelled till" in such a staggered manner and that too in short bursts. We have a 5th June flight and now I am contemplating just rebooking as I cannot wait until say 3rd June to rebook.

I had my parents in law travelling on may 26th and I had went ahead and booked another airline about 10 days back with cancellable/refundable tickers so that if Go First actually did not get cancelled, I could cancel the new tickets.