Lessors seek to take back possession of Go First planes, complicating rescue efforts - Times of India
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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’...