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The matter is now listed for arguments by other respondents on May 31. GoFirst filed for voluntary insolvency resolution proceedings before the National Company Law Tribunal (NCLT) resulting in a moratorium on the airline's financial obligations.
The submission was made by advocate Anjana Gosain for the aviation regulator before a single-judge bench of Justice Tara Vitasta Ganju.
Between May 4 and May 9, lessors sought de-registration and repossession of 45 of Go First’s fleet of 55 aircraft. Go First stopped flying from May 3.
Between May 4 and May 9, lessors sought de-registration and repossession of 45 of Go First’s fleet of 55 aircraft. Go First stopped flying from May 3.
The lessors need to move carefully in this situation, and it is in their interest to let Go First go through the insolvency process and resolve the issues so that the aircraft can fly again, said aviation experts and lawyers.