Go First Says No Timeline For Resumption Of Operations

Go First Crisis: Soon after it was reported that Wadia group-backed airline is planning to resume backend operations by the end of this month, Go First has reportedly told Directorate General of Civil Aviation (DGCA), that there is no definite timeline as of now for the resumption of operations.

According to news agency ANI, DGCA said that in a reply to the airline regulator, Go First airline said they have no definite timeline for the resumption of operations yet.

Earlier, it was reported that the airline is likely to resume office operations by the end of May.

According to a report by CNBC-TV18, the airline is confident that its fleet, which is deemed flight-worthy, will resume operations in the near future.

The report had said the airline had informed its employees that it is aiming to recommence flight operations by mid-June.

On the National Company Law Appellate Tribunal (NCLAT) order, sources told CNBC-TV18 that, “NCLAT has adopted a balanced approach while holding the legality of the admission order. NCLAT has balanced the rights, giving lessors liberty to approach the NCLT.”

Meanwhile, the suspended board of Go First on Tuesday filed caveats before the Supreme Court against four aircraft lessors of the crisis-hit airline.

Four caveats have been filed by Varun Berry, the Chairman of the suspended board of Go First through his counsel advocate Pranjal Kishore, as per the information available on the website of the Supreme Court of India.

The lessors are – SMBC Aviation Capital Ltd, GY Aviation, SFV Aircraft Holdings and Engine Leasing Finance BV (ELFC) – owning around 22 aeroplanes.

The caveat has been filed against the order passed by the National Company Law Appellate Tribunal on Monday, which upheld the order passed by the Delhi bench of the NCLT on May 10.

As of now, Go First has not yet approached the Directorate General of Civil Aviation (DGCA) with their plans to resume operations.

However, there is a possibility that the airline may resume domestic flights on high-volume routes such as Delhi-Mumbai, Delhi-Bengaluru, and Delhi-Chennai.

On Monday, May 22, the NCLAT instructed the Insolvency Resolution Professional (IRP) and the appellant (lessors) to approach the adjudicating authority if they desire to seek additional relief.

The airline is likely to resume operations with less than 10 aircraft. As per the order, erstwhile management of Go First was being represented by Divakar Maheshwari at NCLAT.