Air India on Friday said it aims to operationalise an engineering warehouse near Delhi airport next month which will help resolve aircraft defects at a faster pace, and also indicated that pilots from Go First are looking to join the airline. Under the ownership of Tata Group, loss-making Air India is working on reviving the […]
Category: Civil Aviation
Concerned about aircraft lease rates if NCLT order stands: Boeing
Aerospace giant Boeing is concerned about the impact on aircraft lease rates in India due to the recent National Company Law Tribunal (NCLT) order debarring aircraft lessors from repossessing their planes from insolvent Go First. About 88 per cent of 673 commercial planes with Indian carriers were on lease as on May 3, according to […]
Lessors seek status quo on aircraft, NCLAT to hear matter on Monday
The lessors of Go First on Friday told the National Company Law Appellate Tribunal (NCLAT) they wanted the status quo on the aircraft, meaning nobody will be able to touch the planes until the tribunal gives the final order. The planes are in the possession of the airline. The next hearing is on Monday. Senior […]
Go First crisis will not change Indian aviation’s growth trajectory: Boeing
US aircraft maker Boeing on Friday said the crisis at Go First will not change the trajectory of the Indian civil aviation market in terms of growth and macro trends while legislative clarity on aircraft leasing aspects will provide more comfort to the lessors. India is the third largest as well as one of the […]
Termination of aircraft leases would have no consequence: Go First
Termination of leases for aircraft by their lessors would not have any consequence as the moratorium has been imposed under insolvency resolution proceedings, Wadia group air carrier Go First on Friday argued before the National Company Law Appellate Tribunal (NCLAT). While aircraft lessors on the other side raised doubts over the revival of Go First […]
DGCA fines Air India Rs 30 lakh, suspends pilot for three months
The Directorate General of Civil Aviation (DGCA) has fined Air India ~30 lakh and suspended its pilot for three months in relation to the incident of a pilot allowing a female friend in the cockpit during a Dubai-Delhi flight on February 27. In a statement, Air India, said: “We acknowledge and accept the DGCA’s ruling. […]
Uber launches flight bookings in UK, plans to double down on growth
As part of its push to develop into a travel ‘super app’, Uber has launched flight bookings to its UK app, enabling users to plan a full journey that includes multiple modes of transportation, a report by Financial Times (FT) said. The San Francisco-based company has begun rolling out the new booking tool for domestic […]
Air India pilot unions end protest on new salary contracts, service rewards
Air India pilot unions on Thursday withdrew their directive which restricted members from accepting revised salary agreements. The change in stance from unions comes as Air India stepped up efforts to attract pilots from Go First that temporarily stopped operations last week. Air India has offered higher allowances and service rewards for pilots under the […]
No question of filing for insolvency, ‘rumour baseless’: SpiceJet CMD
There is no question of SpiceJet initiating an insolvency process and any rumour is completely baseless, said the airline’s chairman and managing director Ajay Singh on Thursday. Aircastle—an aircraft lessor to SpiceJet—earlier this month filed a case at the National Company Law Tribunal (NCLT) seeking initiation of an insolvency process against the airline for non-payments […]
Risky jurisdiction: Aircraft lessors raise alarm over Go First crisis
NEW DELHI (Reuters) – The world’s second largest aircraft lessor, SMBC Aviation Capital, has warned that India’s decision to block leasing firms from reclaiming Go First planes will jolt the market and spark a confidence crisis, legal papers show. SMBC, along with firms such as Jackson Square Aviation and Bank of China Aviation, raised the […]
Let’s get business running, crisis-hit Go First’s IRP tells staff
Go First Chief Executive Officer Kaushik Khona and tribunal-appointed interim resolution professional Abhilash Lal on Thursday reached out to the airline’s staff, seeking their support for revival. While Khona said the company had taken all steps for the airline’s revival, Lal put forward the view it would have to raise funds. Employee engagement took place […]
Voluntary insolvency by Go First a fraudulent exercise: SMBC to NCLAT
Initiation of insolvency by Go First was a “fraudulent exercise”, alleged one of the aircraft lessors of the Wadia group firm SMBC Aviation Capital Ltd before the National Company Law Appellate Tribunal (NCLAT). SMBC Aviation Capital through its counsel Arun Kathpalia submitted that it has already terminated its lease with Go First before the moratorium […]