Go First cancels all flights amid cash crunch

Dhaka: Go First flights has cancelled all of its flights for May 3 and 4, the airline informed India’s Directorate General of Civil Aviation (DGCA). The airline has been suffering amid cash crunch for long following uncleared dues by oil marketing companies.

"Go First is facing financial crunch due to non-supply of engines by US-based jet engines manufacturer Pratt and Whitney (P&W) that has forced grounding of more than 50 planes," said a Go First official, as per reports.

Due to the severe cash crunch, Go First has grounded over half of its fleet following issues with Pratt & Whitney engines. Of the 57 aircraft, Go First had only been running daily operations with 28 aircraft as the rest of them remain grounded due to trouble with engines supplied by the American manufacturer.

“The airline is on cash and carry mode meaning it has to pay daily for the number of flights it wants to operate. It has agreed that if there is non-payment, then the vendor can stop business,” reports cited an oil marketing company official saying.

On May 2, Go First reportedly filed an emergency petition against aircraft engine manufacturer Pratt & Whitney in a US court over non-supply of engines. The airline has claimed that it will go bankrupt if engines are not supplied soon.

Besides, the airline has stopped taking ticket bookings for May 3, May 4 and May 5.