Go Air

CoC decided to liquidate airline: Bankrupt airline Go First RP to NCLT

The tribunal has now sought a response from the suspended management of the airline regarding the liquidation plea filed by the RP. The case will come up again on October 4

No objection to release 4 leased engines to lessors: Go First to NCLT

Go First got a final 60-day extension from the National Company Law Tribunal (NCLT) on June 12 to complete its corporate insolvency resolution process (CIRP)

NCLT gives 4th extension of 60 days to Go First to complete insolvency

The National Company Law Tribunal (NCLT) has granted an extension of 60 days to the grounded air carrier Go First for completing the insolvency process. This is the fourth extension for Go First to complete the Corporate Insolvency Resolution Process (CIRP), which is struggling to find a buyer. Earlier, the insolvency tribunal had granted an extension of 60 days on April 8, which ended on June 3, 2024. Following this latest extension, the CIRP of GO First will come to an end on August 3, 2024. While granting the extension, the Delhi-based NCLT bench said: "This is the final extension". The two-member bench also came down heavily on the Resolution Professional for seeking an extension. Counsel appearing for the RP informed the tribunal that they were seeking this extension owing to an extraordinary situation post the Delhi High Court judgment asking DGCA to deregister all of its 54 aircraft. According to the RP, those who have shown interest in buying the airline have revised the

Go First on last leg of extension from NCLT to complete insolvency process

The lenders of the airline include the Bank of Baroda, the Central Bank of India, and IDBI Bank

Go Air crisis: Central Bank set to auction Wadia's land for Rs 1,965 cr

Over 94 acres of land will be sold under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act 2002

DGCA deregisters all 54 aircraft leased to Go First after Delhi HC order

The Delhi High Court, on April 26, directed the DGCA to deregister planes leased to Go First within five working days, providing much-needed relief to the lessors

Deregister Go First aircraft in five days, Delhi High Court tells DGCA

This means that the airline has to give back all 54 aircraft to the lessors if its Resolution Professional does not challenge the order or ask for the stay of the order

Delhi HC allows request by Go First lessors for aircraft deregistration

"DGCA shall forthwith and not later than five working days process the deregistration applications filed by the 54 aircrafts," the court said

Go First insolvency resolution gets a 60-day extension from NCLT

Go First filed for voluntary insolvency on May 2, 2023, under Section 10 of IBC, and on May 10, the NCLT admitted Go First's insolvency plea

Bankrupt airline Go First's bidder ups bid following nudge from banks

Go First, which filed for bankruptcy in May last year, received two financial bids as part of its bankruptcy process, the second being Sharjah-based Sky One Airways, Reuters had reported

NCLT extends deadline for Go First's insolvency for another 60 days

The three parties who have expressed interest in the airline are expected to submit their resolution plan for the airline's revival by February 15

Year Ender: 10 big events that shaped the Indian corporate world in 2023

From Hindenburg's report on the Adani Group to the signing of the biggest aircraft orders by Air India and Indigo, India saw several important corporate news in 2023. Here are the 10 most significant

Pratt & Whitney engines caused damage of Rs 10,000 crore to Go First: Wadia

Nusli Wadia said that P&W engines started failing right from the earliest delivery in 2017 'not just once, but several times'

Expressed interest with resolution professional to buy Go First: SpiceJet

SpiceJet itself has been facing a cash crunch for the past several quarters. It is also dealing with multiple court cases regarding money owed to former owner Kalanithi Maran

Go Air troubles mount as billionaire-backed Indian airline nears collapse

Chief Executive Officer Kaushik Khona quit at the end of November, saying he couldn't get the carrier flying again and that staff hadn't been paid for six months

Unable to repossess Go First planes, global aviation body downgrades India

Country tagged 'negative' due to 'material non-compliance', says Aviation Working Group

NCLT extends insolvency process of grounded airline Go First by 90 days

The tribunal has also asked the resolution professional (RP) of the airline to submit a 90-day action plan

Jindal Power will not bid to take over airline Go First, say reports

The deadline to submit takeover bids ends on Tuesday, and the sources told Reuters Jindal had decided against bidding after evaluating the airline's financial statements

After 5 years, IndiGo's bottom line flashes green for September quarter

Flags more aircraft groundings from Q4 over new PW engine issue

Go First's aircraft, engines can be returned to lessors: DGCA tells HC

According to a report, Jindal Power, which had shown its interest in the airline, may not go ahead with its financial bid