Plane lessor SMBC challenges NCLT move to admit Go First for insolvency

Aircraft lessor SMBC Aviation Capital has gone to the National Company Law Appellate Tribunal (NCLAT) challenging the decision by India’s bankruptcy court to admit Go Airlines’ insolvency plea.

The National Company Law Tribunal (NCLT) admitted Go First’s voluntary plea on Wednesday.

Meanwhile, the court-appointed insolvency resolution professional (IRP) Abhilash Lal told the airline’s employees that all efforts will be made to revive it in six months.

SMBC, one of the world’s largest plane lessors, is owned by a consortium of Japanese financial institutions including Sumitomo Mitsui Banking Corp.