GoFirst Airline Cancels All Flights On May 3, 4

NEW DELHI, May 2: Wadia-owned airline Gofirst on May 2 informed the Directorate of Civil Aviation (DGCA) that it has cancelled all flights on May 3 and 4. Apart from the coronavirus pandemic headwinds and intense competition, the airline was grappling with the Pratt & Whitney engine issues that have forced it to ground many planes due to a shortage of spare engines. Recently in January this year, the group hoped to receive ₹210 crore under the government's credit line guarantee scheme as the budget airline sought to boost its financial position and expand operations. It had already received ₹210 crore from the promoters in December 2022. The airline currently has 37 aircraft in operation.
Under the Emergency Credit Line Guarantee Scheme (ECLGS), that had come as a relief for many pandemic-hit sectors, GoFirst had availed ₹600 crore. Back in 2021, budget carrier GoAir rebranded itself as Go First.
The group has been operating for 17 years now. In the financial year ended March 2020, the airline had a loss of ₹1,270.74 crore while its total income stood at ₹7,258.01 crore.