Go First – The News Desk

7Nov

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Business

Go First RP tells Court

The Resolution Professional (RP) of grounded airline Go First told the National Company Law Tribunal (NCLT) that Rs 28,558 crore of claims has been received by the creditors, out of which 19% of the claims have been admitted and the remaining claims are under verification. This includes Rs 5,639 crore of claims from financial creditors or lenders, of which 68% has been admitted, while the remaining is under verification by the RP. On the other hand, the claims of operational creditors stand at Rs 19,701, of which 4% has been admitted, while the remaining is under verification. Advocate Diwakar Maheshwari, appearing for the RP, told the tribunal in the hearing on Tuesday, that there are approximately 8,000 operational creditors globally, and they are moving an a...

Indian carriers to operate 8 pc more weekly flights at 23,732 in winter schedule

NEW DELHI: Indian airlines will operate a total of 23,732 flights every week during the winter schedule, which is more than 8 per cent higher than the year-ago period, amid rising air traffic demand. The winter schedule 2023 -- effective from October 29 to March 30 next year -- for the scheduled carriers has been approved by aviation regulator DGCA. Go First, which stopped flying from May 3 and is undergoing an insolvency resolution process, will not be having any operations during the winter schedule. The Directorate General of Civil Aviation (DGCA) on Monday said there will be "23,732 departures per week which have been finalised to/from 118 airports" as the winter schedule 2023. In the winter schedule 2022, there were 21,941 weekly flights from 106 airports, reflecting an 8.16 per ce...

Go First RP, lessors slug it out in court over ‘right’ to fly planes

Go First on Thursday told the National Company Law Tribunal (NCLT) that it will appeal the Delhi High Court order of July 5 which said the insolvent airline cannot fly the leased aircraft. “The respondent, Go Air, its directors, employees, agents, officers or representatives, or the Resolution Professionals (RP) or their representative as appointed by the NCLT are hereby restrained from removing, replacing, taking out any part or component, or any relevant operational or other manual records, documentation from any of 30 aircraft except with prior written approval of lessor of such aircraft,” the Delhi High Court said on Wednesday. It said there can be no denial that the aircraft of the petitioner lessors are highly valuable and sophisticated equipment and require ma...