Go First Creditors Vote for Airline Liquidation Amid Financial Woes

06 Aug 2024 CW Team

Go First, the Indian low-cost airline, faces liquidation after its creditors voted in favor of this drastic step due to persistent financial difficulties. The decision comes as the airline struggled to recover from the economic impacts of the COVID-19 pandemic, coupled with rising operational costs and competitive pressures.

The creditors, primarily consisting of banks and financial institutions, found liquidation to be the most viable option after evaluating Go First's financial health and future prospects. The airline's inability to generate sufficient revenue to cover its operational costs and repay debts led to this resolution.

The liquidation process will involve selling Go First's assets to repay creditors. This includes its fleet, ground equipment, and other valuable assets. Employees of the airline face uncertainty as they await details on severance packages and potential job placements.

Go First, known for its budget-friendly flights and extensive domestic network, had been struggling with cash flow issues and mounting debts for several months. Despite efforts to restructure its operations and seek financial support, the airline failed to stabilize its finances.

The aviation industry, particularly in India, has been significantly impacted by the pandemic, leading to a sharp decline in passenger numbers and revenue. Go First's liquidation marks another setback for the sector, which has seen several airlines struggle to stay afloat.

The Directorate General of Civil Aviation (DGCA) and other regulatory bodies are expected to oversee the liquidation process to ensure compliance with legal and financial regulations. Passengers holding tickets with Go First will be advised on refunds and alternative travel arrangements.

This development underscores the ongoing challenges faced by the aviation industry in the post-pandemic era, with financial sustainability remaining a critical concern for many airlines.

Infrastructure Transport

16 Sep 2025

Metro Line 2B Phase 1 to Boost Realty in Mumbai’s Eastern Suburbs

Mumbai’s real estate sector is set for a major boost as Phase 1 of Metro Line 2B, between Mandale and Diamond Garden, nears completion. The Mumbai Metropolitan Region Development Authority (MMRDA) has confirmed that mandatory rectifications are done, and inspections by the Commissioner of Metro Railway Safety (CMRS) have been carried out. The 5.39-km stretch with five stations forms part of the larger DN Nagar–Mandale corridor, designed to ease congestion and improve east–west connectivity. Passenger operations are expected by December 2025, with the full line slated for 2027. ..

WattPower wins Best Inverter award at Global Solar Expo 2025

WattPower, a leading renewable energy solutions provider, has won the award for “Best Inverter in the Utility Segment” at the Global Solar Expo 2025. The recognition underscores the company’s commitment to delivering reliable, high-performance and future-ready solar solutions for large-scale projects. At the forefront of utility-scale solar, WattPower manufactures advanced string inverters that directly feed power into the Indian grid. With robust technology, high-quality components and comprehensive product lifecycle support, its solutions stand among the most sophisticated in the ..

Awfis delivers 67,000 sq. ft. innovation hub for eBay in Bengaluru

Awfis Space Solutions, India’s largest flexible workspace provider and the first publicly listed workspace solutions platform, has partnered with eBay to establish a 67,000 sq. ft. innovation hub at Embassy Tech Village, Bengaluru. The mandate covers design, build and management of the new office, which will act as a strategic hub supporting diverse functions and accelerating eBay’s AI-first commerce strategy. The centre will focus on artificial intelligence, engineering, product development and applied research, strengthening eBay’s growth in India. Embassy Tech Village, North Beng..