Several listed subsidiaries of the Adani empire, which spans coal, airports, cement and media, collapsed in early trade, with some losing as much as 20%
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Go First, an airline operating in India has temporarily suspended bookings on its website. Passengers are unable to buy tickets until May 15, with bookings only available from May 16 onwards.
This decision was made after the airline announced the cancellation of all flights scheduled for May 3, 4, and 5, citing operational reasons. The airline had said it would offer a “full refund” to passengers affected by these cancellations.
Travel industry experts in the UAE believe that the entire operations of Go First could be discontinued for many reasons. “Firstly, the airline has clearly mentioned on their website about the ticket refund. Normally, if a scheduled flight is cancelled, the amount is credited to an e-wallet which can be rescheduled within a year. However, in this case, a complete refund is provided, which strikes a doubt,” said an agent based in the UAE.
Generally, a refund can be expected if an airline withdraws operations, the agent added. "Earlier, the money was being held by the airline, providing the traveller with a better deal. Something is happening and we will get a clear picture in the next few days."
Returning the money, however, could be a big task for the airline, especially since it had reportedly accumulated nearly Rs10 million (Dh448,870) through ticket sales, the experts explained. They believe "a merger" could also be a possibility.
Another agent said there is no clarity from the Go First management: “And now the website shows all the flights are fully booked until May 15.
“We have heard that Go First has grounded all its flights and this information will be officially confirmed after a press conference by the airline in a few days."
On Twitter, scores of passengers asked if flights post-May 5 would take off, but the responses from the airline's social media team were non-committal.
To such queries, the airline responded along the lines of "We are checking your query and will update you as soon as possible."
The cash-strapped Indian airline filed for bankruptcy, blaming "faulty" Pratt & Whitney (P&W) engines for the grounding of about half its fleet.
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