 "After Jindal, Jettwings submits expression of interest for Go First")
Jettwings Airways, a Guwahati-based regional airline, has submitted an expression of interest (EoI) for Go First, which has been undergoing an insolvency process since May this year.
“Jettwings Airways, backed by Sanjive Narain and Anupam Sarma, has submitted its EoI for GoFirst Airlines,” the airline said in a statement.
The airline, which had earlier announced plans to launch services in October, added that it had obtained a no-objection certificate (NOC) from the Ministry of Civil Aviation (MoCA) to operate as a scheduled commuter airline.
In June, Narain had said the airline had earmarked Rs 100-crore investment and planned to start service with two planes in October.
On Wednesday, Naveen Jindal-led Jindal Power Limited (JPL) had also submitted an EoI for Go First.
Over the past few weeks, the resolution professional at Go First has been working to revive the airline with limited flights.
However, securing funding from lenders has proven challenging due to ongoing legal cases filed by the aircraft's lessors.
However, securing funding from lenders has proven challenging due to ongoing legal cases filed by the aircraft's lessors.
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After the airline, which was owned by the Wadias, stopped operating flights from May 3, its lessors had put in applications with the Directorate General of Civil Aviation (DGCA) to repossess more than 40 of the airline's 54 planes. However, the NCLT on May 10 put a moratorium on all Go First assets, barring the lessors from taking their planes back. Multiple lessors of Go First have filed an appeal in the higher tribunal and courts to repossess the planes.