Go First Case News Today

Go First crisis: The company was floated in December and is being led by Sachin Naik, a former employee in Go First’s finance department.

Lessors have moved a contempt petition before the High Court claiming that the previous order allowing them access to the planes to carry out maintenance work was not being followed.

The DGCA told Delhi HC the recent directive exempting aviation leases from the bankruptcy moratorium should be applicable even to companies undergoing insolvency proceedings. This significantly diminishes the likelihood of the airlines revival

Go Firsts resolution srofessional has been directed to grant the lessors access to all the documents pertaining to the maintenance of aircraft, engines and airframes in two weeks

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The NCLT-appointed Interim Resolution Professional challenged the Delhi HC order in SC claiming the proceedings by lessors to repossess their aircraft and other equipment would interfere with the bid to revive the airline

Among the conditions mentioned, DGCA noted that scheduled flight operations will be approved for commencement only after the availability of the required interim funding and approval of flight schedule by the regulator.

Go First case LIVE: NCLT seeks response of Go First’s IRP in applications by lessors to exempt them from moratorium as they had terminated their leases priory to moratorium order. Case will now come up on June 15.

Sources told CNBC-TV18 that the airline, in its re-launch plan, will start with 26 aircraft and will operate over 150 daily flights.

Go First said that Pratt & Whitney’s arguments fail, and said, quoting the emergency arbitrator, that there is a very real danger that the airline will go out of business if relief is given in respect of the delivery of the engines.