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Engine Lease Finance BV, which leased nine engines to SpiceJet, want its remaining one engine back and has asked the court to stop the airline from using it as the lease has been terminated
Yet another lessor, Engine Lease Finance BV on Wednesday moved the Delhi High Court against cash-strapped SpiceJet airline, seeking return of the last remaining engine.The lessor had leased nine engines to the low-cost carrier and the airline ...
The tribunal, in its interim order, said as the civil aviation regulator Director General of Civil Aviation (DGCA) had not deregistered the aircraft, they are available to Go First for use to resume operations.
Insolvency tribunal NCLT on Wednesday rejected Go First lessors' petitions to take back the planes leased to the grounded airline, and said the aircraft are available for resumption of operations since aviation regulator DGCA has not deregistered them. A two-member bench of the National Company Law Tribunal (NCLT) held that physical possession of the aircraft/engines would be 'indisputably' with Go First and lessors cannot claim possession during the Corporate Insolvency Resolution Process (CIRP) of the carrier. According to the tribunal, aircraft and its engines are the sole essence of Go Fir...
Ever since the Go First crisis broke out, the engine and aircraft lessors have been demanding a return of their assets