GoAir Latest News

GoAir Latest News

  • Travel
  • June 21, 2023
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GoAir Latest News

GoAir cancelling flights in 2023, reason for Go First airlines failure, GoAir giving refund for cancelled flights and How to get refund from GoAir Airlines?

GoAir Airlines, one of India’s oldest low-cost carriers, is facing a turbulent future in 2023. The airline, which recently rebranded itself as Go First has filed for bankruptcy protection and suspended all its flights due to a severe cash crunch and mounting debts. The airline has blamed its woes on the faulty engines supplied by Pratt & Whitney, a US-based aerospace manufacturer, for its fleet of Airbus A320neo aircraft. The airline claims that the engines have caused frequent technical glitches, flight cancellations and delays, resulting in huge losses and reputational damage. GoAir Airlines had ordered 144 Airbus A320neo aircraft in 2011 and 2016 with an aim to expand its domestic and international operations. The airline had planned to reach the 100 plane mark by 2023 by inducting one plane every month for 10 years. However, the airline has received only 37 planes so far and has been unable to utilise them fully due to the engine issues. The airline has also been hit hard by the Covid-19 pandemic, which has severely affected the aviation industry worldwide. The airline has seen a sharp decline in passenger traffic and revenue while facing high fixed costs and debt obligations.

GoAir Bankruptcy updates

The airline has sought relief from the government and the creditors, but has not received any positive response so far. The airline’s future now depends on the outcome of the bankruptcy proceedings and the possibility of finding a new investor or partner. The airline’s employees and customers are also anxiously waiting for a resolution of the crisis. GoAir Airlines was founded in 2005 by Jeh Wadia, a scion of the Wadia Group, a diversified conglomerate with interests in textiles, chemicals, food and real estate. The airline started as a domestic carrier with a single-class configuration and a low-fare model. The airline aimed to offer affordable and reliable air travel to the masses. The airline gradually expanded its network to cover 40 destinations across India and nine international destinations in Asia and the Middle East. The airline also introduced premium services such as priority check-in, extra legroom seats and lounge access for its customers. The airline rebranded itself as Go First in May 2021, with a new logo and slogan: “You Come First”. The airline said that the rebranding was part of its strategy to become an ultra-low-cost carrier (ULCC) and cater to the needs of the post-pandemic travellers. However, the rebranding did not help the airline to overcome its financial troubles and operational challenges. GoAir Airlines is now facing an uncertain future in 2023, with no clear signs of recovery or revival.

 

Why is GoAir cancelling flights in 2023?

GoAir, one of the leading low cost airlines in India, has announced that it will cancel some of its flights in 2023 due to operational reasons. The airline said that it is facing challenges in maintaining its fleet and crew availability as well as complying with the regulatory requirements. GoAir said that it is working to minimize the inconvenience to its passengers and provide them with alternative options. The airline also said that it is taking steps to improve its operational efficiency and customer service. GoAir apologized for the inconvenience caused by the flight cancellations & assured that it is committed to providing safe and reliable air travel to its customers.

 

What is the reason for Go First airlines failure in 2023?

The failure of Go First airlines in 2023 was a result of a long standing dispute with its engine supplier, Pratt & Whitney. The airline, which had ordered 72 Airbus A320neo aircraft powered by Pratt & Whitney’s geared turbofan (GTF) engines, faced frequent engine failures and groundings since 2016. The GTF engines, which were supposed to be more fuel efficient and quieter, had problems with the fan blades, oil seal and combustion chamber lining. Go First claimed that it lost 108 billion rupees ($1.3 billion) in revenue and incurred additional expenses due to the faulty engines, which grounded 50% of its fleet by December 2022. The airline filed for emergency arbitration in Singapore in March 2023, seeking replacement engines from Pratt & Whitney at a faster rate. However, Pratt & Whitney refused to comply with the arbitration order andaccused Go First of having financial problems of its own making. Go First filed for bankruptcy on May 2, 2023, after cancelling all its flights for three days due to “operational reasons”. The bankruptcy filing was the first major airline collapse in India since Jet Airways in 2019.

 

Who is the owner of GoAir airlines?

GoAir is one of the leading low-cost airlines in India, operating over 300 daily flights across 36 destinations. The airline was founded in 2005 by Jehangir Wadia who is the son of Nusli Wadia, the chairman of Wadia Group. Jehangir Wadia is the managing director of GoAir and holds a 99% stake in the company. The remaining 1% is owned by his father. GoAir has been profitable since its inception and has a fleet of 55 Airbus A320 aircraft. The airline aims to provide affordable and reliable air travel to its customers, while maintaining high standards of safety and service.

 

Is GoAir giving refund for cancelled flights in 2023?

GoAir, now known as Go First, is a low-cost airline that has filed for bankruptcy on May 2, 2023. The airline has suspended all its flights till May 30, 2023 and has not given any clear information on when it will resume its operations. This has left many customers worried about their bookings and refunds.

According to the airline’s website, customers who have booked flights for the dates when the flights are cancelled will be eligible for a full refund to their original mode of payment. However, the refund process may take some time depending on the mode of payment and the online travel aggregator used for booking. The airline has also provided a detailed FAQ on its website with information on how to claim refunds for cancelled flights.

For customers who have booked flights for future dates after May 30, 2023, the refund policy is not clear yet. The Directorate General of Civil Aviation (DGCA) has ordered Go First to refund the tickets bought by passengers in a timely manner as stipulated in regulations. However, the airline has not announced any specific policy or procedure for such refunds. Customers are advised to keep checking the airline’s website and social media channels for any updates or contact their customer care for more information.

 

How to get refund from GoAir Airlines after GoAir has filed for bankruptcy on May 2, 2023?

If you have booked a flight with Go Air Airlines and are wondering how to get a refund after the airline has filed for bankruptcy on May 2, 2023, here are some steps you can take:

– Check your booking confirmation email and see if you have purchased travel insurance or if your credit card offers any protection for flight cancellations. If so, contact your insurance provider or credit card company and file a claim for reimbursement.

– If you have not purchased travel insurance or if your credit card does not offer any protection, you can try to contact Go Air Airlines directly and request a refund. However, this may not be possible as the airline may have ceased operations and may not have enough funds to pay back its customers.

– If you cannot get a refund from Go Air Airlines, you can file a claim as a creditor in the bankruptcy proceedings of the airline. You will need to provide proof of your booking and payment, such as your confirmation email, receipt orbank statement. However, this process may take a long time and you may not receive the full amount of your refund as there may be other creditors with higher priority claims.

– Alternatively, you can try to book another flight with a different airline and see if you can get a discounted fare or a voucher for future travel. You may also want to check if there are any government schemes or consumer protection laws that can help you recover some of your losses.

We hope this guide has been helpful and we wish you all the best in getting your refund from Go Air Airlines.

 

Latest Tweet from GoAir?

 

FAQ: Go First has filed for bankruptcy on May 2, 2023

 

Q: What is the reason for Go First’s bankruptcy?

A: Go First has filed for bankruptcy due to the financial losses caused by the grounding of half of its fleet of Airbus A320neo aircraft, which are powered by Pratt & Whitney engines. The airline has blamed Pratt & Whitney for not complying with an arbitration order to release spare leased engines that would have allowed it to resume full operations.

 

Q: How much debt does Go First have?

A: According to its bankruptcy filing, Go First owes 65.21 billion rupees ($798 million) to its financial creditors, which include Central Bank of India, Bank of Baroda, IDBI Bank, Axis Bank and Deutsche Bank. It also owes 12.02 billion rupees to vendors and 26.60 billion rupees to aircraft lessors. Its total liabilities amount to 114.63 billion rupees.

 

Q: What will happen to Go First’s flights and passengers?

A: Go First has cancelled all its flights scheduled for May 3 to May 5 due to “operational reasons”. The airline has informed the Directorate General of Civil Aviation (DGCA) about its bankruptcy and flight suspension. The DGCA has said that it will ensure that the passengers are accommodated on other airlines or refunded as per their choice.

 

Q: What is the future of Go First?

A: Go First has filed for voluntary insolvency under the Insolvency and Bankruptcy Code, which allows a company to restructure its debt and revive its business under a resolution plan approved by its creditors & a court appointed administrator. The airline has said that it hopes to emerge from bankruptcy as a stronger and more efficient carrier.

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