Go First lessor allowed to check engines
₹100 crore so that it can service its insurance and other statutory obligations. Go First, earlier owned by Wadia Group, filed for insolvency attributing its financial troubles to Pratt and Whitney’s faulty engines.
NCLT admitted the case on 10 May, also suspended the board, and imposed a moratorium on the airline’s financial obligations. The moratorium led to several Go First aircraft lessors challenging NCLT’s admission of Go First’s insolvency in NCLAT, arguing that they should be allowed to reclaim their leased aircraft.
But NCLAT refused to entertain their plea. Later, lessors such as Pembroke Aircraft Leasing 11 Ltd, SMBC Aviation Capital Ltd, Accipiter Investments Aircraft 2 Ltd, EOS Aviation 12 (Ireland) Ltd, SFV Aircraft Holdings IRE 9 DAC Ltd, ACG Aircraft Leasing Ireland Ltd, and DAE SY 22 13 Ireland Designated Activity Company, approach the Delhi High Court and sought deregistration of the aircraft leased to Go First.
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