Delicense Go First eet: HC to DGCA
Delhi High Court also instructs DGCA to facilitate export of all 54 aircraft from India and provide export certi cates; Go First bidders say High Court order will not deter their plans; next NCLT hearing on insolvency resolution on May 13
The Delhi High Court on Friday ordered the Director General of Civil Aviation (DGCA) to process de-registration of grounded airline Go First’s entire eet of 54 aircraft sought by various lessors within ve days and facilitate their export.
The High Court set aside the letters of communication issued by the DGCA to various lessors in May last year, when it put into abeyance their de-registration applications. This followed the National Company Law Tribunal’s decision on May 10, to admit Go First’s plea for voluntary insolvency and consequential moratorium prohibiting adverse actions by its lessors, and debtors. Following this 14 lessors moved the High Court.
The Delhi HC also instructed the DGCA to facilitate export of aircraft from India and provide export certi cates along with other documents. It also authorised the lessor petitioners to undertake the maintenance of the grounded aircraft till their de-registration and export.
Earlier this month, NCLT granted an extension for completion of the resolution process till June 4. This was the third extension. The next NCLT hearing on the resolution process is on May 13. The resolution professional appointed by the NCLT, has received two bids for Go First. This includes a joint bid from SpiceJet CMD Ajay Singh and Ease My Trip CoFounder Nishant Pitti-led Busy Bee Airways. Another bid is from Sky One, an aviation rm headquartered in Sharjah, UAE, led by Jaideep Mirchandani.
“The de-registration does not alter our plans for the Indian aviation industry. If our bid goes through, Sky One can bring in its own assets to revive the airline as we are experienced lessors,” said Mr. Mirchandani responding to the HC judgment. Mr. Pitti said they will evaluate necessary adjustments to their o£er for Go First.