National Company Law Tribunal (NCLT) on Monday will hear a plea filed by BOC Aviation Limited to secure the aircraft it has leased to the crisis-hit Go First airline.
This comes after the National Company Law Appellate Tribunal (NCLAT) on May 22 dismissed a challenge filed by airline’s lessors against the NCLT order which admitted airline’s insolvency plea and granted moratorium on all its financial obligations. SMBC Aviation Capital Ltd, GY Aviation, SFV Aircraft Holdings and Engine Leasing Finance BV had approached NCLAT in a bid to gain possession of their aircraft.
However, NCLAT in its order had said that the lessors can approach the NCLT again over termination of lease issue. The appellate tribunal also observed that NCLT should decide lessors’ plea without being influenced by its ruling.
Go First has not operated its flights since May 3, a day after it had filed for bankruptcy. The airline is yet to resume operations, with the recent statement from the company saying that all of its flights will remain cancelled till May 30.
“Due to operational reasons, Go First flights until 30th May 2023 are cancelled,” the airline said in its statement released on Saturday.
“As you are aware, the company has filed an application for immediate resolution and revival of operations,” the statement added.
Aviation regulator Directorate General of Civil Aviation (DGCA) asked the airline on May 24 to submit a revival plan within 30 days. The regulator has asked for details like available aircraft fleet, pilots and other staff required for resuming operations.
