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Soon after the Directorate General of Civil Aviation (DGCA) allowed Go First to resume its operations, the airline on Tuesday started its ‘handling’ flight from Mumbai.
The NCLT also dismissed the plea by lessors to inspect their aircraft and engine and held that they have in their previous order from June 15 already directed the Resolution Professional to maintain the same.
Go First has secured funding from several banks, and once the funding is released, most probably next week, the scheduled flights will be resumed, say sources
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...
The National Company Law Tribunal (NCLT) at Delhi on Wednesday refused to restrain the resolution professional of Go First Airlines from using the aircrafts leased to it by six leasing companies.