The NCLT-appointed Interim Resolution Professional challenged the Delhi HC order in SC claiming the proceedings by lessors to repossess their aircraft and other equipment would interfere with the bid to revive the airline
Among the conditions mentioned, DGCA noted that scheduled flight operations will be approved for commencement only after the availability of the required interim funding and approval of flight schedule by the regulator.
Go First case LIVE: NCLT seeks response of Go First’s IRP in applications by lessors to exempt them from moratorium as they had terminated their leases priory to moratorium order. Case will now come up on June 15.
Go First said that Pratt & Whitney’s arguments fail, and said, quoting the emergency arbitrator, that there is a very real danger that the airline will go out of business if relief is given in respect of the delivery of the engines.