Following Go First's announcement that it has suspended operations and filed for insolvency resolution on May 2, employees of the airline are now facing uncertainty about their future. The airline stated that it could no longer meet its financial obligations, leading to the suspension of flights until May 5. The case is set to be taken up by the bankruptcy court on May 4.
A senior pilot at Go First airline told Moneycontrol that the HR department has not informed them about what will happen after May 5. Employees have been asked to wait for instructions about their schedules and whether they will be required to work.
The airline owned by the Wadia Group stopped operating and filed for insolvency resolution, citing a financial crisis caused by the lack of engines that have grounded half of its fleet. It also requested temporary orders to prevent lessors from reclaiming aircraft and to prevent the regulator from taking unfavourable actions against it.
“We don’t know what will happen after Friday. The internal chatter among pilots is that base salaries will be paid and flying hours will be dramatically reduced if not completely shut down," the pilot said.
A different pilot expressed concern that if the airline opts to pay only base salaries after May 5, it could be challenging for employees to continue working for the company.
The second pilot expressed disappointment at the absence of transparent and unambiguous communication from the company. He further added that in the event of the airline's closure, most employees would anticipate receiving severance pay and assistance in securing alternative employment.
Go First is looking to resume its operations once its application for insolvency resolution is admitted by the National Company Law Tribunal (NCLT).