Go First, previously known as Go Air shut its operations last year has invaluable airport slots that will be up for a grab, and carriers like Air India (AI), IndiGo (6E), and Akasa Air (QP) may bid to get them.
go air
Aeroconsultant became the first to successfully return Go First A320neo to the skies and export it out of India.
Delhi High Court has instructed the Director General of Civil Aviation (DGCA) to process Go First, previously known as Go Air, aircraft deregistration applications within five working days, posing a significant setback for the airline.
A fourth potential buyer (NS Aviation) has entered the scene for Acquiring Go First, as lenders extend the resolution applicants’ deadline until the end of the month
Lenders of the financially distressed Indian LCC Go First, established by the Wadia family, are reportedly considering a proposal to liquidate the airline.
The potential recovery of the grounded Indian low-cost carrier Go First may encounter obstacles if a court upholds aircraft lessors demands.
The deadline for submitting initial expressions of interest to bid for the financially troubled Go First is expected to be extended by an additional two to three weeks due to the absence of any such applications from potential buyers.
As part of the ongoing insolvency proceedings, Go First (G8) has received claims worth Rs 24,000 crore (US$2.9 billion) from both functional and monetary creditors.
Wadia-owned Go First, the grounded airline since May 3, 2023, has decided to scale down its planned resumption of operations by nearly 30%.
Tomorrow, on May 12, Friday, the National Company Law Appellate Tribunal (NCLAT) is scheduled to hear the plea filed by SMBC Aviation Capital, the aircraft lessor of Go First (G8).