Grounded airline Go First's CEO Kaushik Khona resigns

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Go First's CEO, Kaushik Khona, has resigned after nearly seven months since the low-cost airline initiated insolvency proceedings..

In an email to the company's staff on Thursday, Khona stated that his last day at the firm will be November 30...

"With a heavy heart, I have to inform that today is my last day with the company..

Khona said, all the employees of the airline worked with "sincere dedication" to get the Directorate General of Civil Aviation (DGCA) approval for the resumption of operations after they conducted a detailed audit for all operations and aircraft...

The company has significant value but unfortunately, the Resolution Professional (RP) has not found anyone who can take this forward, Khona said.. Go First ceased its flight operations in early May and opted for voluntary bankruptcy proceedings due to financial challenges, primarily stemming from Pratt & Whitney engine problems.. (With PTI inputs)..

Full story at Economic Times | 

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