A look at the journey of Go First Airways – from success to liquidation.
Image Source: By Anna Zvereva from Tallinn, Estonia - GoAir, VT-WJB, Airbus A320-271N, CC BY-SA 2.0, https://commons.wikimedia.org
Launched in 2005, Go First became a budget airline catering to tier-2 and tier-3 cities in India.
Image source: Sean d'Silva - http://www.planespotters.net/Aviation_Photos/photo.show?id=219577, GFDL 1.2, https://commons.wikimedia.org
By 2019, Go First had expanded its fleet and routes, standing as a competitor to Indigo and SpiceJet.
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Operational inefficiencies, rising costs, and grounded planes led to mounting financial woes for Go First.
Image source: Trinidade, CC BY-SA 3.0 <https://creativecommons.org/licenses/by-sa/3.0>, via Wikimedia Commons
In May 2023, Go First filed for insolvency, citing its inability to pay creditors and lessors.
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The NCLT’s decision to freeze Go First’s assets led to a series of legal battles with creditors and lessors.
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With no revival plan and dwindling assets, the CoC filed for the liquidation of Go First in late 2024.
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In January 2025, NCLT approved the liquidation of Go First, appointing a liquidator to oversee the process.
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Thousands of employees lost jobs, and creditors faced losses as the airline’s operations came to an end.
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Go First’s downfall serves as a lesson on financial discipline and strategic risk management in the aviation sector.
Image source: Ankit khare, CC BY-SA 3.0 <https://creativecommons.org/licenses/by-sa/3.0>, via Wikimedia Commons
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Image Source: By Anna Zvereva from Tallinn, Estonia - GoAir, VT-WJB, Airbus A320-271N, CC BY-SA 2.0, https://commons.wikimedia.org