After the airline ceased operations, aircraft supplier companies had approached the court to take back their planes from Go First. The suppliers have got relief after long legal proceedings.
DGCA, the body that regulates the aviation industry, has canceled the registration of all 54 aircraft taken on lease by the airline Go First, which is facing insolvency process. A few days ago, the court had given permission to the companies providing aircraft rental to withdraw their aircraft from Go First.
The airline was closed last year
In May last year, Go First had stopped operating flights after facing financial crisis and announced going into insolvency process. At present bankruptcy proceedings are going on against him. After the airline ceased operations, aircraft supplier companies had approached the court to take back their planes from Go First. The suppliers have got relief after long legal proceedings.
What did the airline say?
In this background, DGCA on Wednesday canceled the registration of all 54 leased aircraft with Go First Airline. A senior DGCA official said that some notices related to termination of registration have been put on the regulator’s website. The Delhi High Court, in its judgment on April 26, had directed the DGCA to initiate the process of returning the 54 leased aircraft. This work was also asked to be completed in five working days.
What it means: Deregistration by the aviation regulator means that the aircraft is no longer registered for flight services with the airline. The supplier has the option to deregister the aircraft if the airline does not perform as per the stipulated conditions.
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