DGCA asked to de-register 54 aircrafts leased to Go First: Rajya Sabha informed
DGCA is subject to the outcome of the cases before National Company Law Tribunal, Delhi and High Court of Delhi" The Mumbai-based carrier Go First, which stopped flying on May 3, is undergoing an insolvency resolution process, and it has cancelled all its flights till 25 July. DGCA on Friday said it has approved Go First's plan to restart operations with 15 aircraft and 114 daily flights with a host of conditions, including the availability of required interim funding.
In a release, the Directorate General of Civil Aviation (DGCA) said the airline's resumption plan for operating 15 aircraft and 114 daily flights has been reviewed and accepted. "The acceptance is subject to the outcome of the writ petitions/ applications pending before the Hon'ble High Court of Delhi & Hon'ble NCLT, Delhi," it said.
Meanwhile, Go Airlines (India) Ltd has received claims worth 240 billion rupees ($2.9 billion) from operational and financial creditors so far as part of the carrier's ongoing insolvency, Reuters reported. The process is in line with procedural requirements under the law which allows every creditor a right to payment and remedy by submitting claims if a company is under bankruptcy. Once the claims are filed, the resolution professional will check its authenticity.
"Claims from the lenders are around 50 billion rupees, while lessors' claims amount to 180 billion rupees so far," a banker with a state-run bank, who has exposure to Go Airlines said, after a meeting of the committee of creditors on Friday. Go First airline will be allowed to start bookings for its flight only after the DGCA approves its flight schedule as per the communication.
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