What started with Go First announcing suspension of flights for two days due to engine shortage, has become a crisis for the aviation sector after the airline filed for insolvency. Since Go First won't be returning to Indian airspace this month, lessors have been trying to get their aircraft back, so that they can be leased to other airlines willing to operate more flights.
Adressing the concerns of one such lessor BOC Aviation, the National Company Law Tribunal will hear its plea to secure its aircraft leased to Go First, on May 29.
Lessors against insolvency proceedings
This comes days after the National Company Law Appellate Tribunal had upheld the NCLT's order on Go First's insolvency, despite an appeal against it by its lessors.
Firms that had leased aircraft to the carrier had alleged that the voluntary insolvency plea by Go First was a fraudulent move.
Uncertainty about Go First's comeback prevails
Apart from citing the non-delivery of engines by Pratt and Whitney as a reason for its inability to operate, Go First had also mentioned that it had been bogged down by fixed costs for grounded aircraft and fixed costs.
Although it asked its crew to be ready to fly on May 27, Go First once again canceled flights till May 30, days after the DGCA asked the airline to submit a revival plan.
