Go First locks horns with lessors in a bid to begin bankruptcy hearings
NEW DELHI (Reuters) – Indian airline Go First’s effort to start insolvency proceedings has become ensnared in a tussle with aircraft lessors after they asked the aviation regulator to deregister some of its planes as a step towards taking them back.
India’s first major airline collapse since 2019 underlines the fierce competition in a sector dominated by IndiGo and the recent merger of Air India and Vistara under the Tata conglomerate.
Some lessors opposed Go Airlines (India) Ltd’s plea at the first hearing of the National Company Law Tribunal (NCLT) on Thursday, after the airline had blamed “faulty” Pratt & Whitney engines this week for the grounding of about half of its fleet.
