Delhi,26th April 2024:

In one of the major setback,Delhi High Court has directed the Directorate General of Civil Aviation (DGCA) to move on with the process of deregistering aircraft leased by Go First within the next five working days. This order means that the lessors can now reclaim their aircraft following Go First declaration of bankruptcy almost a year ago.

It may be noted that the court has issued an order for the deregistration of all 54 planes involved in the case. Additionally, it has restricted Go First from operating these aircraft, added the report.

Foreign lessors have been locked in a legal tussle to repossess their planes after Go First was granted bankruptcy protection in May 2023, with the recovery of 54 Airbus planes blocked under a law in place at the time.

The matter was registered in the Delhi High Court by Dubai Aerospace Enterprise (DAE) Capital, ACG Aircraft Leasing,Pembroke Aviation, Accipiter Investments Aircraft 2, EOS Aviation and SMBC Aviation. They had approached the Delhi High Court in May 2023 to ask for permission to reclaim their planes as they were allowed only occasional inspections of their grounded planes.