The National Company Law Tribunal (NCLT) at Delhi on Wednesday refused to restrain the resolution professional of Go First Airlines from using the aircrafts leased to it by six leasing companies.
Ajmera had been approved as the resolution professional by the Committee of Creditors led by Central Bank of India. The CoC approached NCLT Delhi to get the tribunal's approval.
The additional pay, which the airline calls a retention bonus, will come into effect on June 1, according to an email to pilots. The crisis-hit airline, which rebranded as Go First two years ago, said it will also soon reintroduce an allowance called “longevity bonus” for long-serving staff
The National Company Law Appellate Tribunal (NCLAT) upheld an an order passed by National Company Law Tribunal (NCLT) which had admitted an application by Go First Airlines seeking initiation of insolvency proceedings.