Go First establishes company with former employees to liaison with lessors amid resolution process
Go First Says Lessors Tactically Using Different Forums Against Airline According to a letter by Go First's resolution professional, the company has been formed "by certain Go First" employees for the "collation of aircraft records/documents". The letter further suggested that Go First, via Naik, could facilitate engagements with Maintenance, Repair, and Overhaul firms (MROs) for necessary aircraft maintenance, based on identified needs documented in the records. While most lessors have agreed to the new development, a lawyer representing one of the lessors, however, raised concerns when speaking to the paper.
Also Read | Go First Insolvency: Carrier faces bleak future as lenders assess fund infusion plans "This is a weird move which has come as a reaction to the contempt petition. It's also because Go First has no manpower to maintain the aircraft. Most lessors have agreed to this "tripartite arrangement" because we have to protect our aircraft.
Under IBC norms, the resolution professional is responsible for the upkeep of the assets, including aircraft. But Go First has no money or people. So the lessors will bear the costs of maintenance.
At least then the aircraft will not go to decay," the lawyer said. Naik, SP Mumbai Aviation, Go First parent Wadia Group, and the resolution professional did not respond to queries, as per the report. Also Read: SpiceJet expresses interest in buying bankrupt Go First Go First faces challenges from dissatisfied lessors amid its pursuit of an investor bid within India's bankruptcy court.
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