Amid Go First’s bankruptcy declaration, airfares may increase by 10-15 per cent on routes where the airline had a strong presence, forcing travellers who had booked flights to destinations such as Srinagar, Goa, Leh and Phuket to reconsider their itineraries.
Notably, Airfares are already experiencing a spike due to the summer travel season in India.
The struggling airline had filed for voluntary insolvency proceedings on Tuesday before the National Company Law Tribunal (NCLT), citing prolonged delays in getting airworthy engines from Pratt & Whitney (P&W)
Go First was scheduled to operate 199 flights from Delhi to Srinagar, 182 flights from Delhi to Leh and 156 flights on the Mumbai to Goa route. Go First also provides six of the 52 daily flights between Delhi and Mumbai, six of approximately 30 direct flights between Delhi and Srinagar, and Mumbai to Goa routes.
It also contributes five of the 13 flights between Delhi and Leh and three of the 10 between Delhi and Bagdogra.
According to experts, air ticket prices could increase by 20 per cent of current fares. This price hike is expected to last for only a short while, as rival airlines are expected to increase capacity on these routes.