Senior executives of crisis-hit Go First, which is undergoing insolvency resolution process, on Monday discussed its revival plans with officials of aviation regulator DGCA, according to a source.
The meeting, held in the national capital, came against the backdrop of the Directorate General of Civil Aviation (DGCA), last week, asking the grounded airline to submit its revival plan within 30 days.
The budget carrier, filed a petition for voluntary insolvency resolution proceedings on May 2, citing its inability to carry out operations due to non-delivery of engines by the US engine maker Pratt & Whitney. The plea of the airline, which has not flown since May 3, was admitted by the National Company Law Tribunal (NCLT) on May 10.
"DGCA had called the entire management team of Go First on Monday to discuss the resumption plan. At the meeting, the team presented the road map for revival of operations," a source told PTI on the condition of anonymity.
Without divulging specific details, the source said that all stakeholders are keen to see the airline taking wings again.
"The airline will shortly come out with a way forward. As of now, it is heading in the right direction," the source said.
Currently, the airline has suspended operations till May 30.
The source indicated that suspension of flights would be extended by a few more days as DGCA will take time to take a final decision on the revival road map submitted to it.
Meanwhile, Go First has offered its captains Rs 1 lakh per month as "retention allowance," in addition to their salary, as per a communication sent out to them on Sunday.
"First officers, in addition to their present salary, will get an additional Rs 50,000 per month as retention allowance," it said.
These allowances will be paid from June.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)