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Go First : Avoid any negative action against us


Go First : Avoid any negative action against us

go air planes grounded

Crisis-hit Go First has asked the National Company Law Tribunal to prevent the airline’s lessors and the DGCA, the regulatory body, from taking any immediate, negative action against the company.

The Delhi bench of the NCLT is scheduled to hear the airline’s petition for voluntary insolvency resolution procedures on Thursday. The Wadia group-owned airline has liabilities of Rs 11,463 crore.

As of Wednesday, May 3rd, all Go First flights are cancelled for the next three days.The low-cost airline has filed a petition with the NCLT asking for an injunction preventing the DGCA and its important suppliers from taking any action against the company.

Another request is that the company’s departure and parking slots be protected from cancellation by the DGCA, the Airports Authority of India (AAI), and private airport operators.

The airline also requests that the fuel suppliers not terminate the current contractual arrangements so that aircraft operations can remain uninterrupted.

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Go First, which has been in operation for more than 17 years, blames Pratt & Whitney’s failure to supply engines for the grounding of more than half of its fleet. There is a default of Rs 3,856 crore against operating creditors, part of the carrier’s total obligations of Rs 11,463 crore.

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