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India Business News: Small, financially weak and startup Indian airlines could now find it costlier to lease aircraft — which in turn could mean higher airfares and negati

After the hearing, the court deferred the proceedings and the tribunal is now scheduled to hear the matter on 31 July.

Go First Lessors: Lessors have made several attempts to reclaim planes for missed payments

In a surprise announcement On May 2, Go First had said that it was voluntarily filing for insolvency with the NCLT, blaming US-based engine manufacturer Pratt & Whitney for its financial situation

Aircraft lessor Aircasltes plea seeks to initiate insolvency proceedings against SpiceJet alleging that the airline has failed to pay its outstanding dues

Kings Counsel Harish Salve, representing the IRP, argued that the aircraft lessors have initiated parallel proceedings despite clear directive from the NCLAT asking them to approach the National Company Law Tribunal (NCLT) on the status of aircrafts where leases were terminated prior to the moratorium.

The lessors submitted before the high court that denial of deregistration by the Directorate General of Civil Aviation is 'illegitimate'

Several aircraft lessors of Go First pitched before the Delhi High Court on Friday for deregistration of their planes by aviation regulator DGCA so they could take them back from the crisis-hit airline.

The lessors submitted before the high court that denial of deregistration by the Directorate General of Civil Aviation (DGCA) is “illegitimate”.

Senior advocate Mukul Rohatgi, appearing for one of the lessors, said the aircraft was its property and an interim resolution professional has no power to take over assets of a third party.