Aircraft lessors wait for Cape Town Convention laws to take shape

After struggling to get back their aircraft from Go First following the airline’s abrupt stoppage of operations, lessors are seeking the legislative protection provided by the Cape Town Convention (CTC) to shield themselves from a repeat of the events.

By filing for voluntary insolvency proceeding in May last year, Wadia group promoted no frills carrier Go First prevented its leasing partners from repossessing their assets claiming that the aircraft formed the core of its business.