[ad_1] Go First is likely to start its charter flights on Thursday, July 27, and the scheduled flights are expected to be started next week, according to sources close to the development. Go First has secured funding from several banks and once the funding is released to the airline, most probably next week, the scheduled … Read more
[ad_1] The Directorate General of Civil Aviation (DGCA) Wednesday told the Delhi High Court it was due to a technical glitch on its portal that the applications of several aircraft lessors of Go First for deregistration of their planes were shown as ‘rejected.’ The aviation regulator said it was not processing such requests following … Read more
[ad_1] The National Company Law Appellate Tribunal (NCLAT) on Monday upheld an NCLT order allowing crisis-hit Go First’s voluntary insolvency resolution proceedings. A two-member NCLAT bench asked several aircraft lessors of Go First opposing insolvency to approach the National Company Law Tribunal (NCLT) for any remedy. “The order dated May 10, 2023, allowing insolvency … Read more
[ad_1] NEW DELHI: SpiceJet CMD Ajay Singh‘s assertion that the airline is not filing for insolvency does not seem to have comforted lessors. On Friday, lessors asked the DGCA to de-register two more aircraft with the airline so that they can be repossessed. This week has seen requests for five SpiceJet aircraft to be repossessed … Read more
[ad_1] Go First may very well be thanking its lucky stars on Wednesday for the NCLT verdict in its favour amidst financial and operational difficulties. With the admission of Go First’s voluntary insolvency resolution plea and the enacted moratorium, the airline is relieved of certain concerns that hinted at a difficult future for the carrier. … Read more
[ad_1] Even though the Wadia group has approached the National Company Law Tribunal (NCLT) voluntarily to protect their leased planes from being repossessed, there exists the risk of other interested groups bidding for Go Airlines (India) Ltd, said Supreme Court advocate. “The risk of some other interested group making a bid for Go Airlines that … Read more
[ad_1] Crisis-hit Go First has sought various interim directions from the National Company Law Tribunal, including restraining lessors from taking back aircraft and regulator DGCA from taking any adverse action against the airline. The Wadia group-owned airline, which has liabilities worth Rs 11,463 crore, has sought voluntary insolvency resolution proceedings and the plea is set … Read more
[ad_1] Go First, formerly known as GoAir, a Wadia Group-owned airline, today announced to file an application for voluntary insolvency resolution proceedings before the National Company Law Tribunal (NCLT), Delhi. The airline declared to cancel all filed till May 5, as it goes bankrupt amid severe cash crunch. Nearly two years ago, Go First filed … Read more