Lessors seek deregistration of 23 Go First planes to secure their assets

Lessors on Thursday urged the Directorate General of Civil Aviation (DGCA) to deregister 23 Go First aircraft to secure their assets before the insolvency process begins.

While lessors opposed Go First’s plea for grant of an interim moratorium in the National Company Law Tribunal (NCLT), they moved swiftly to protect their planes. A moratorium ordered by the NCLT prohibits institution and continuation of suits and recovery of assets by owners and lessors.

The DGCA on Thursday evening put up a list of all deregistration requests received from lessors on its website. There is a laid down process under rules and the regulator is required to de-register the aircraft from the registry within five working days of receiving the application.