Go First: Aircraft Lessor Moves to Delhi HC to Retrieve His Leased Aircraft

As Go First undergoes insolvency proceedings, an aircraft lessor turned to the Delhi High Court seeking instructions to the authorities to release the leased plane to the crisis-hit airline.

In addition, two more aircraft lessors have filed with the National Company Law Appeal Tribunal (NCLAT) opposing the airline’s insolvency proceedings.

Accipiter Investments Aircraft 2 Ltd has filed a written petition with the Delhi High Court against the Union government and others, according to a lawyer. He has applied to the high court to order the DGCA to cancel the registration of his aircraft, which is currently leased to Go First.

In addition, Accipiter Investments Aircraft has moved the NCLAT. Another aircraft lessor, Eos Aviation 12 (Ireland) Ltd, has also filed a petition with NCLAT against Go First.

Both petitions are listed with the appeals court on Wednesday.

With the moratorium on financial obligations and the transfer of assets from Go First following insolvency proceedings, lessors cannot deregister and repossess the leased aircraft to the carrier.

A total of six entities have moved NCLAT in the Go First case and earlier on Tuesday, the appeals court heard the guilty plea of ​​Ireland-based Engine Leasing Finance.

The appeals court said it will approve the order on May 22 along with the other three petitions.

“Orders of 05.22.2023. Both parties can submit short written notes within two days,” he said.

Three aircraft lessors, SMBC Aviation Capital Ltd, GY Aviation and SFV Aircraft Holdings, filed NCLAT against Go First’s insolvency proceedings.

These three lessors have leased around 21 aircraft from Go First.

On May 10, the National Company Law Tribunal (NCLT) admitted Go First’s declaration of voluntary insolvency.

So far this month, several lessors have approached aviation regulator DGCA to deregister and regain possession of Go First’s 45 aircraft.

Go First stopped flying as of May 3.