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Business News/ News / India/  Go First airline says 'no definite timeline' for resumption of operations, informs DGCA
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Go First airline says 'no definite timeline' for resumption of operations, informs DGCA

In a reply to DGCA, Go First airline said they have no definite timeline for the resumption of operations yet: DGCA

The tail fins of Go First airline, formerly known as GoAir, passenger aircrafts are seen parked on the tarmac at the airport in New Delhi, India (REUTERS)Premium
The tail fins of Go First airline, formerly known as GoAir, passenger aircrafts are seen parked on the tarmac at the airport in New Delhi, India (REUTERS)

Go First airlines has informed Directorate General of Civil Aviation (DGCA) that they do not have a ‘definite timeline’ yet on the resumption of operations. Go First stopped flying on 3 May. 

Meanwhile, the suspended board of Go First on Tuesday filed caveats before the Supreme Court against four aircraft lessors of the crisis-hit airline.

Four caveats have been filed by Varun Berry, the Chairman of the suspended board of Go First through his counsel advocate Pranjal Kishore, as per the information available on the website of the Supreme Court of India.

The lessors are - SMBC Aviation Capital Ltd, GY Aviation, SFV Aircraft Holdings and Engine Leasing Finance BV (ELFC) - owning around 22 aeroplanes.

The caveat has been filed against the order passed by the National Company Law Appellate Tribunal on Monday, which upheld the order passed by the Delhi bench of the NCLT on 10 May.

The National Company Law Appellate Tribunal (NCLAT) on Monday upheld insolvency resolution proceedings against crisis-hit airline Go First, derailing aircraft lessors' efforts to take back their planes from the struggling Wadia group firm.

In its order, NCLAT had directed the lessors to approach NCLT regarding the claim of possession and other respective claims relating to the aircraft whose leases were terminated by the lessors after the company filed for insolvency process.

Disposing of their pleas through a 40-page-long common order, the NCLAT said lessors are at "liberty to file" appropriate application before NCLT under Section 65 of the Insolvency & Bankruptcy Code (IBC) with "appropriate pleadings and material" regarding their claims.

"The appellants, as well as IRP, are at liberty to make appropriate Application before the Adjudicating Authority (NCLT) for declaration with regard to the applicability of the moratorium on the aircraft with regard to which Leases in favour of the Corporate Applicant (Go First) were terminated prior to admission of Section 10 Application, which Application needs to be considered and decided by the Adjudicating Authority in accordance with the law," it had said.

So far this month, several lessors have approached aviation regulator DGCA for deregistration and repossession of Go First's 45 planes.

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Published: 23 May 2023, 06:07 PM IST
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