Thursday, May 11, 2023

Two more aircraft lessors move NCLAT against Go First's insolvency

New Delhi: Two more aircraft lessors -- GY Aviation and SFV Aircraft Holding -- on Thursday moved appellate tribunal NCLAT against the order passed by the NCLT allowing Go First's voluntary plea to initiate insolvency proceedings.

SMBC Aviation Capital, which is one of the world's largest aircraft leasing companies, already moved NCLAT on Wednesday, hours after the Delhi-based Principal bench of the National Company Law Tribunal (NCLT) admitted Go First's plea to initiate the insolvency resolution process against the airline.

Ireland-based GY Aviation is the largest lessor of Go First with 9 aircraft, while SFV Aircraft Holdings has leased out one aircraft to the Wadia group-owned company.

11/05/2023 PTI

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