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Management consultancy Primus Partners' Managing Director Shravan Shetty said Go First seems to be headed unfortunately towards liquidation with the cost of revival increasing.
Move, in line with a Delhi Court directive, opens the door for lessors to take them back
The matter is now scheduled to be formally withdrawn on March 1 and both parties have already informed the NCLT bench about the settlement.
The government is working on a policy framework to facilitate fractional ownership of these aircraft.
The case is now likely to come up for hearing on January 18 where SpiceJet and Celestial are expected to tell NCLT on the status of the settlement.