Go First Bankruptcy: So far, the requests for de-registration have been received by eight Dublin-based lessors
An update in the Go First bankruptcy suggests that the aircraft lessors have reportedly approached the civil aviation regulator Directorate General of Civil Aviation (DGCA). They have done that to ask DGCA to deregister and export 20 aircrafts by Go First.
According to a Livemint.com report, under Irrevocable De-registration and Export Request Authorisations (IDERA), the DGCA is required to de-register aircraft within five days from the name of a third party in cases like default of lease rentals.
It adds that so far, the requests for de-registration have been received by eight Dublin-based lessors. These include Narmada Aviation Leasing, Yamuna Aviation, Banas Aviation, JSA Aircraft, SMBC Aviation Capital, GY Aviation and others. To break it down, the de-registration requests have also reportedly been made for 16 Airbus A320neo carriers.
These carriers are largely powered by Pratt & Whitney (PW), the company that has been blamed by Go First for its downfall. However, the report adds that maximum number of de-registration requests have come from GY Aviation, followed by SMBC Aviation and others.
Go First bankruptcy case has caused havoc throughout the Indian aviation space. The airline has already filed a voluntary insolvency plea in the National Company Law Tribunal (NCLT) and has cancelled all flights, now till May 9, 2023. It even added that it has stopped taking bookings till May 15, 2023. In response to this move, even DGCA has ordered Go First to refund the full amount to all passengers.