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Aviation watchdog DGCA has deregistered all the 54 planes leased by Go First, days after a court allowed lessors to take back their aircraft from the bankrupt airline. Bogged down by financial turbulence and engine woes, budget carrier Go First stopped flying in May last year and is undergoing an insolvency resolution process. Foreign lessors that have leased planes to the airline had moved the court to take back the aircraft.
Arik Air Limited in Receivership (Arik) has debunked the allegations of misapplication of import duties and illicit sale of aircraft by the Nigerian Custom Service. SaharaReporters reported on October 3, that the Nigeria Customs Service said it commenced an investigation into the diversion of import duties to the tune of $40 million by the management of Arik Air in Receivership.
The beleaguered airline may just swing to a profit on lower fuel costs but has a long way to go
Experts believe there is a possibility of more lessors putting in requests for the deregistration of planes leased to some other airline, thinking that they get stuck in litigation.
Indian carriers are projected to require more than 2,200 aircraft in the next 20 years