Go First Chief Executive Officer Kaushik Khona has announced his exit from the airline as it stares at liquidation.
Go First suspended operations after filing for insolvency in May. Efforts to restart operations and find a new investor have come to a naught.
Khona, who was assisting the airline’s resolution professional, announced his exit in a email to the staff on Thursday.
“Unfortunately things have not worked in our favour inspite of huge efforts. Even salaries have not been paid for almost six months inspite of several requests and representations to all concerned including the resolution professional, committee of creditors and the Wadia group. The company which we all built for the last eighteen years has significant value. But unfortunately RP has not found anyone who can take this company forward,” Khona said.
Go First received an expression of interest from Jindal Power but the company did not submit a financial bid for the grounded airline. The National Company Law Tribunal has extended the resolution period for the airline by 90 days till February.