Cash-strapped Go First cancels May 3, 4 flights, files for insolvency

Cash-strapped domestic airlines Go First has cancelled all flights for May 3 and 4 and has been 'forced' to file for voluntary insolvency resolution proceedings before the National Company Law Tribunal in Delhi, chief executive officer Kaushik Khona told news agency PTI. The airline - which employs over 3,000 people - has already informed the government and will submit a detailed report to the Directorate General of Civil Aviation, while suspended flights will resume only after its insolvency application is admitted, Khona told PTI.