Tired and frustrated with the delay in Go First's revival, CEO Kaushik Khona who headed the airline until May said that he has quit the grounded carrier.
"I wanted to see that you are all paid your dues but I can no longer sustain and hence with heavy heart I have decided to leave," Khona said in a heart-felt letter to employees.
It's been seven months since Go First came under Insolvency and Bankruptcy Code (IBC) but the Resoution Professional (RP) and the Committee of Creditors (CoC) have been struggling to find a suitable buyer to restart the airline. Last week, the CoC received a 90-day extension from the National Company Law Tribunal to continue with its revival efforts.
Khona in his letter questioned the Resolution Professional's inability to attract any buyers.
"Go First has significant value but unfortunately RP has not found anyone who can take this forward," Khona said.
The CEO's resignation reflects the pain & desperation of thousands of employees who haven't been paid for six months.
"Employees have not been paid for almost 6 months inspite of several requests & representations to RP, CoC and the Wadia Group," Khona stated.
Banks have refrained from infusing more funds after the Rs 100 crore they put few months ago. Senior executives of the airline say Go First's promoter, the Wadia Group has not shown any interest in paying employees their rightful dues despite the sale of their Mumbai land for over Rs 5,000 cr.
"Unfortunately, things have not worked in our favour inspite of huge efforts...failure in restarting the airline is now taking toll on my health and even my family's health and well-being," Khona told employees.
In May when the IBC proceedings started, Khona had promised employees of bringing the airline back to the skies again.
"I regret for not getting things done as they were beyond my control," he said in today's letter.
(Edited by : Keshav Singh Chundawat)
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