End of the Line for Go First

In a significant development, the National Company Law Tribunal (NCLT) has ordered the liquidation of Go First, formerly known as GoAir. This decision comes after the airline's unsuccessful attempts to revive its operations under India's bankruptcy laws. The Wadia Group-owned carrier ceased operations in May 2023, marking the end of an 18-year journey in the skies.

Financial Turmoil Leads to Liquidation

With debts exceeding Rs 6,521 crore owed to creditors including Central Bank of India, Bank of Baroda, IDBI Bank, and Deutsche Bank, the lenders had pushed for liquidation. The NCLT has appointed D T Veokatasubramanian as the liquidator, tasked with the recovery of dues and the submission of a preliminary report within 75 days from the liquidation commencement date.

A Legacy Comes to an End

Go First's journey began in 2005, around the same time as its competitors IndiGo and SpiceJet. Despite its initial success, the airline joins the ranks of defunct Indian carriers such as Air Deccan, Kingfisher, and Jet Airways. This liquidation marks a somber chapter in the history of Indian aviation, reflecting the volatile nature of the airline industry.