Go First insolvency chronology

Go First insolvency chronology

After more than a week of uncertainties, the skies seem to be more clear for the cash-starved airline Go First.

Following is the brief chronology of developments in the last nine days.

May 2 - Go First files for voluntary insolvency resolution proceedings, seeks interim moratorium on financial obligations; suspends all flights till May 5.

May 4 - Aviation regulator Directorate General of Civil Aviation (DGCA) issues show cause notice to Go First for sudden suspension of flights Go First suspends sale of tickets till May 15 National Company Law Tribunal (NCLT) reserves its order on Go First's petition May 5 - Go First cancels all flights till May 12.

May 8 - Go First requests NCLT to take an early decision on its petition DGCA directs Go First to immediately stop sale of tickets till further orders.

May 9 - Go First says will respond to DGCA show cause notice in due course Lessors seek deregistration of 45 Go First planes in last one week May 10 - NCLT admits Go First's petition for insolvency resolution proceedings; imposes moratorium on airline.

(With PTI inputs)