The Wadia-controlled airline which has filed for insolvency proceedings under Section 10 of the Insolvency and Bankruptcy Code with the National Company Law Tribunal (NCLT), has decided to extend suspension of flights till May 15. The Mumbai-based airline had announced cancellation of all flights between May 3 and May 5 on Tuesday.
Spot airfares offered by Go First's competitors on select routes have surged due to the sudden fall in the number of seats available. Many of the routes have already hit a minimum of two-month high. For instance, the least priced ticket for a Mumbai-Srinagar non-stop flight costs over ₹28,000 for May 5 as against around ₹11,000 on May 2. May is considered a peak season for air travel due to the summer holidays.
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