Impact of the Go First crisis was visible; Fares of major air routes including Delhi, Mumbai and Chandigarh increased up to 5 times

Passengers travelling on Delhi-Mumbai, Delhi-Leh, Chandigarh-Srinagar and other important air routes are currently paying 4 to 5 times more money due to a hike in fares. The sudden hike in fares comes after budget airline GoFirst filed for insolvency proceedings in the NCLT.
There has been an increase of four to five times in the fares of flights from Delhi to many major cities. The fare from Delhi to Leh has gone up to Rs 26,819, which was around Rs 4,772 before May 5. The airfare from Chandigarh to Srinagar has gone up to Rs 24,418, which was earlier Rs 4,047.
At the same time, the fare from Srinagar to Chandigarh is running at Rs 26,148, which was Rs 4,745 on May 6. Apart from this, there has been an increase of 37 per cent in the fare for the Delhi-Mumbai route.
Due to the sudden grounding of GoFirst airline, there has been a gap between demand and supply, due to which airfares are seeing a jump.
GoFirst Airlines flew to more than 30 destinations with a fleet of 59 aircraft. The company used to operate around 200 flights daily.
Go First applied for bankruptcy process on 2 May. All flights for May 12 have been cancelled by the airline. The airline says failure of Pratt & Whitney engines has forced it to ground more than 50 per cent of its fleet and the company is incurring losses. Because of this, it is not in a position to meet its financial responsibilities.