GoFirst, the airline facing a severe financial crisis, is set to resume its operations.
The airline, owned by the Wadia Group, has been undergoing bankruptcy proceedings in recent days.
It has now sought approval from the Directorate General of Civil Aviation (DGCA) to recommence flights using 22 aircraft over the next five months.
GoFirst has outlined its plan until November, aiming to restart with military charter flights followed by commercial ones.
Adequate staff for 22 aircraft operations
According to a report, the airline management informed the DGCA that they have a workforce of 340 pilots, 680 cabin crew members, and 530 engineers, which is sufficient to handle operations for the 22 aircraft.
In its commercial plan, the airline stated the need for ₹12 crore to cover daily operations.
Furthermore, a significant investment of ₹250 crore has been made in the airline in the last week of April.
The airline management, who had filed for bankruptcy in May, has highlighted the requirement of ₹200 crore to resume flights.
GoFirst also stated its eligibility to access funds and undrawn credit worth ₹400 crore under the Central government’s Emergency Credit Line Guarantee Scheme (ECLGS).
If GoFirst’s flights are reinstated, there is a possibility of reduced flight fares in the future.
GoFirst is also engaged in discussions with lenders for interim funding of ₹200 crore.
This funding will be allocated towards salary payments for April and May, as well as vendor payments.
A senior official from GoFirst mentioned the necessity of a steady cash flow once flights recommence.
The airline is developing a plan to cover lease rentals and maintenance reserves starting from July.
