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.
Go First Airline
These lenders aim for a recovery exceeding ₹2,000 crore for the land, given that the airline is indebted to its creditors for over ₹6,200 crore.
During the hearing, senior advocate Neeraj Kishan Kaul, representing the RP, informed the court about the established procedures for aircraft maintenance. Kaul encouraged lessors to communicate with the RP to address any concerns.
Go First Airlines, SpiceJet’s (SG) CMD Ajay Singh and Busy Bee Airways, primarily owned by EaseMyTrip CEO Nishant Pitti, have introduced a rescue plan involving a comprehensive infusion of Rs 1,600 crore into the struggling 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
Go First has attracted interest from various parties, including Malaysia Airlines (MH), Europe’s easyJet (U2), and U.S.-based Spirit Airlines (NK)
MUMBAI- The deadline has passed for potential buyers to submit Expressions of Interest (EOI) for India’s Go First, and three notable entities, including a prominent local corporation and at least one foreign airline, have reportedly done so before the October 7, 2023, cutoff date.
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.
Go First (G8), had a hard time this week as Lessors were allowed to inspect its aircraft engines, failed talks with Delhivery, and more employees resigned from the airline.