Go First Airlines Enters Liquidation After Failing to Secure Revival Plan
Go Airlines (India) Ltd, known as Go First, has been admitted into liquidation by the National Company Law Tribunal (NCLT) in Delhi. This marks the end of the airline’s turbulent journey, with financial struggles and an unsuccessful attempt to revive its operations.
The bankruptcy court’s decision comes after the airline’s lenders, through a resolution professional (RP), failed to receive any viable proposals to resuscitate the company. The NCLT bench, led by judicial member Mahendra Khandelwal and technical member Sanjeev Ranjan, approved the application to initiate the liquidation process. The airline has admitted liabilities of approximately Rs 8,575 crore,…
