First CEO to leave: Kaushik Khona, the CEO of Bandgo First Airline for the past seven months, has finally resigned. The airline has already started the bankruptcy process. He informed the employees of the company about his resignation by writing a mail. In it, he said that it is with a heavy heart that I am telling you that November 30 is my last day in the company. The company is fully capable of moving forward. But, it is our misfortune that the Resolution Professional (RP) was unable to find someone who could carry Go First. Things were out of my control.
What was written in the email?
In this email, Khona wrote that I joined the airline in 2020 as CEO. During my second term, you all supported and supported me a lot. With his help I tried to fulfill my responsibilities. I will continue to cooperate fully in the future. We expected the airline to resume operations from June 2023. But unfortunately it could not happen. The board of directors initiated bankruptcy proceedings. Earlier, Khona also worked with GoFirst from 2008 to 2011. This was his second stint with the company.
Said – I want all the employees to get their salaries.
Kaushik Khona wrote that the employees worked with full responsibility and patience. But we could not get salaries for the last 6 months. For this we also demanded from RP, Committee of Creditors and Wadia Group. But, despite our best efforts, we failed. I want you all to get your salary. But, I can’t stay here any longer. So, I have decided to quit. I’m sorry.
The airline failed due to engine failure
GoFirst flights have been suspended since May 3. GoFirst had to ground more than half of its planes due to the engine failure of American company Pratt & Whitney. He was short of cash and had no money for fuel. Kaushik Khona claims that the loss of around 8.9 thousand crore rupees in 3 years due to engine failure. GoFirst is a budget airline of the Wadia Group. Its maiden flight was in November 2005 between Mumbai and Ahmedabad. It was known as Go Air. The airline changed its name to GoFirst in 2021.
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