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 restart
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.
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.
Go First (G8) airlines have sought immediate funding of ₹100 crores from its lenders to address pressing financial obligations, including essential liabilities such as insurance.
MUMBAI- Wadia-owned airline Go First (G8) has requested emergency funding of Rs 100 crore from its creditors to ensure financial stability.
After a Singapore tribunal’s ruling for Pratt & Whitney (P&W) to provide Go First (G8) with five engines monthly until December, both parties engage in negotiations for a new lease agreement.
Wadia-owned Go First (G8), which has faced a challenging three-month grounding, is set to receive a much-needed boost as it gears up to restart flight services.
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.
The Directorate General of Civil Aviation (DGCA), India’s aviation regulator, has approved Go First (G8) Airlines’ plan to resume operations. However, the acceptance comes with certain conditions, as stated in a notification issued on Friday.
Wadia-owned Go First, the grounded airline since May 3, 2023, has decided to scale down its planned resumption of operations by nearly 30%.