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[ad_1] MUMBAI: Wadia group-owned Go First expects to receive Rs 210 crore under the government's credit line guarantee scheme next month as the budget airline seeks to boost its financial position and expand operations. The airline, which received Rs 210 crore from the promoters last month, aims to have 53 operational aircraft in its fleet by the start of April this year, its CEO Kaushik Khona told PTI. The airline currently has 37 aircraft in operation. Apart from the coronavirus pandemic headwinds and intense competition, the no-frills airline is grappling with the Pratt & Whitney engine issues that have forced it to ground many planes due to a shortage of spare engines. Under the Emergency Credit Line Guarantee Scheme (ECLGS), which has come as a relief for many pandemic-hit sectors, Go First has so far availed Rs 600 crore. With promoters' infusing Rs 210 crore, the airline will be able to get an equal amount under the ECLGS next month, Khona said. In an inter...

[ad_1] MUMBAI: Lessors are seeking to take back possession of at least 20 Airbus SE jets operated by Go Airlines India Ltd , further complicating the insolvent carrier’s attempts to start flying again, even as a local bankruptcy court contemplates whether the company should get any respite. Lessors including Dublin’s GY Aviation Lease, SMBC Aviation Capital and Pembroke Aircraft Leasing have applied to India’s Directorate General of Civil Aviation on Thursday to de-register the planes, including brand new A320neo jets, information posted on the regulator’s website showed. The regulator should typically deregister the planes within five working days of a request, meaning the clock is ticking for the airline controlled by billionaire Nusli Wadia’s group. India in 2008 acceded to the so-called Cape Town Convention, which defines the rights of aircraft owners and lessors during payment defaults. While the agreement allows for the return of equipment quickly, India’s enforcement hasn’...

[ad_1] New Delhi: The National Company Law Tribunal (NCLT) will hear cash-strapped carrier Go First's insolvency plea on Thursday (May 4). On Tuesday, the airline had said that it has filed for insolvency resolution as it can no longer continue to meet its financial obligations, blaming US company Pratt & Whitney's "faulty engines" for grounding of 50 per cent of its fleet. Go First had also announced suspension of all its flight operations from May 3 to May 5. Its CEO Kaushik Khona had confirmed on Tuesday that the airline has filed an application for voluntary insolvency resolution proceedings before the NCLT. Go First owes financial creditors Rs 6,521 crore, its bankruptcy filing showed. The voluntary bankruptcy petition filed by the Go Airlines will be impacting its lenders, i.e., banks. However, private lender Axis Bank said on Wednesday in a regulatory filing that it has no funded or non-funded exposure to the financially-troubled Go Airlines. Accord...

[ad_1] Two foreigners were offloaded from a Mumbai-bound Go First flight after they violated the flight safety rules, Go First spokesperson said on Sunday. The incident took place on January 6 when both passengers passed "lewd comments" to the crew members. Both of them disrupted fellow passengers also, the spokesperson said. "Two foreigners were offloaded from G8-372 Goa- Mumbai flight on January 6, after they violated the flight safety rules. Both passengers passed lewd comments to the crew members and disrupted fellow passengers too," a Go First Spokesperson said. Following the incident, the Pilot-in-Command decided to offload them immediately. Both passengers were handed over to the airport security. "Pilot-in-Command decided to offload them immediately and handed them over to airport security. The matter was reported to DGCA for further action," the spokesperson added. Earlier on January 6, in wake of Air India`s mid-air urination incidents...

[ad_1] The National Company Law Tribunal (NCLT) on Friday directed the resolution professional of cash-strapped grounded airlines Go First to submit details of the subsequent developments. A two-member bench of NCLT, comprising Mahendra Khandelwal and Rahul P Bhatnagar, directed the resolution professional (RP) to file an additional affidavit in the next 10 days, including the status of the maintenance of the leased aircraft. Also read:  Agitated Lufthansa Pilot Draws 24 Km Long Giant Penis In Sky: Here's Why? Moreover, the insolvency tribunal has also asked the RP to file the reply over the pleas filed by three new Go First lessors in two weeks and a rejoinder, if any, by them next week. It has directed to list the matter on September 1 for the next hearing. The three new lessors are - DAE (SY 22) 13 Ireland, EOS Aviation 12 Ireland and Accipiter Investments Aircraft 2 Ltd. Pleadings on the petitions filed by six other lessors have been completed. ...

[ad_1] The Delhi High Court Wednesday allowed crisis-hit Go First's lessors to inspect their aircraft at least twice a month and carry out maintenance. The high court said there can be no denial of the fact that the aircraft of the petitioner lessors are highly valuable and sophisticated equipment and require maintenance for their preservation. Justice Tara Vitasta Ganju also restrained Go First and its representatives and the Interim Resolution Professional (IRP) appointed by the NCLT from removing, replacing, or taking out any part or components, or records of the 30 aircraft except with the prior written approval of the lessor of the particular airplane. The high court passed the interim order on multiple applications filed by the lessors to alleviate any further losses. Also read:  Go First Crisis: Aviation Watchdog DGCA Starts Special Audit Of Airline's Facilities cre Trending Stories The interim applications were filed in the main petitions by lessors seeking...