NEW DELHI: The lessors of 54 aircraft to grounded-since-last May GoAir finally got relief on several counts from the Delhi high court on Friday which directed the Directorate General of Civil Aviation (DGCA) to de-register these planes within a maximum of five working days.
The revival of GoAir under IBC is now an even tougher task as the lessors are learnt to be wooed by both Tata’s Air India and cash-rich IndiGo to get around 15 of the Airbus A320 family planes which could fairly quickly be made airworthy.Rest of the planes will have to wait to get replacement for their snag-ridden engines/spares from Pratt & Whitney, which has been unable to supply the same to IndiGo also for several months due to which the latter’s over 75 planes are grounded.
Sources say Nishant Pitti-led consortium, which includes SpiceJet’s MD Ajay Singh (in his personal capacity), that has bid to revive GoAir under IBC, will also try to negotiate with the lessors for the 15 airworthy planes. Given a choice between AI/IndiGo and a consortium with a SpiceJet connection, it remains to be seen who will the lessors go with if indeed they decide to keep their planes in India.
Delhi HC’s Justice Tara Vitasta Ganju on Friday allowed lessors to undertake maintenance on the long-grounded planes until the same are de-registered and exported in accordance with the Indian law. “The respondent DGCA and respondent Airport Authority of India (AAI) shall and assist the petitioner lessors and grant them access to the airports…” the court said.
The resolution professional (RP) of GoAir and the airline have been restrained from accessing, entering or operating any of the planes; and also from removing, replacing accessories, spare parts, documents and records from the aircraft.
Nitin Sarin, managing partner of law firm Sarin & Co who is an expert on aviation matters, said: “It is a big win for the lessors who have got no relief from NCLT which had extended the moratorium (on Go assets) further on the asking of the RP. The lessors had challenged the moratorium as they had terminated (lease) prior to the moratorium being granted.”
Nishant Pitti said on X: “…We will review the details of the order once we receive the official document. Following this review, we will evaluate our position and consider any necessary adjustments to our proposed offer for GoAir. Our commitment remains to proceed in a manner that respects the legal process and aligns with our strategic objectives.”
Sources say the Pitti-led consortium is keen to go ahead with the resolution process to be able to pursue the arbitration case between GoAir and PW in Singapore, with GoAir likely to get a significant amount from there as its collapse happened primarily due to almost half the airline’s being grounded for months on account of PW’s snag-ridden engines for Airbus A320 family of planes and its inability to give replacement engines in time. Whoever bags the airline will get the arbitration proceeds.
Ajay Singh needs funds to keep SpiceJet afloat and could get a lifeline by being the operational arm of a revived GoAir.
The revival of GoAir under IBC is now an even tougher task as the lessors are learnt to be wooed by both Tata’s Air India and cash-rich IndiGo to get around 15 of the Airbus A320 family planes which could fairly quickly be made airworthy.Rest of the planes will have to wait to get replacement for their snag-ridden engines/spares from Pratt & Whitney, which has been unable to supply the same to IndiGo also for several months due to which the latter’s over 75 planes are grounded.
Sources say Nishant Pitti-led consortium, which includes SpiceJet’s MD Ajay Singh (in his personal capacity), that has bid to revive GoAir under IBC, will also try to negotiate with the lessors for the 15 airworthy planes. Given a choice between AI/IndiGo and a consortium with a SpiceJet connection, it remains to be seen who will the lessors go with if indeed they decide to keep their planes in India.
Delhi HC’s Justice Tara Vitasta Ganju on Friday allowed lessors to undertake maintenance on the long-grounded planes until the same are de-registered and exported in accordance with the Indian law. “The respondent DGCA and respondent Airport Authority of India (AAI) shall and assist the petitioner lessors and grant them access to the airports…” the court said.
The resolution professional (RP) of GoAir and the airline have been restrained from accessing, entering or operating any of the planes; and also from removing, replacing accessories, spare parts, documents and records from the aircraft.
Nitin Sarin, managing partner of law firm Sarin & Co who is an expert on aviation matters, said: “It is a big win for the lessors who have got no relief from NCLT which had extended the moratorium (on Go assets) further on the asking of the RP. The lessors had challenged the moratorium as they had terminated (lease) prior to the moratorium being granted.”
Nishant Pitti said on X: “…We will review the details of the order once we receive the official document. Following this review, we will evaluate our position and consider any necessary adjustments to our proposed offer for GoAir. Our commitment remains to proceed in a manner that respects the legal process and aligns with our strategic objectives.”
Sources say the Pitti-led consortium is keen to go ahead with the resolution process to be able to pursue the arbitration case between GoAir and PW in Singapore, with GoAir likely to get a significant amount from there as its collapse happened primarily due to almost half the airline’s being grounded for months on account of PW’s snag-ridden engines for Airbus A320 family of planes and its inability to give replacement engines in time. Whoever bags the airline will get the arbitration proceeds.
Ajay Singh needs funds to keep SpiceJet afloat and could get a lifeline by being the operational arm of a revived GoAir.
