Go First seeks interim directions from NCLT to limit action by lessors, DGCA and suppliers amidst financial crisis

Go First, facing a critical financial situation, has requested various interim directions from the National Company Law Tribunal (NCLT) to limit adverse action by several entities. The airline’s Wadia group owners owe Rs 11,463 crore in liabilities. It seeks voluntary insolvency resolution proceedings, and the NCLT is scheduled to hear the plea on Thursday. In its appeal, the airline has asked for curbs on actions from aircraft lessors and the DGCA, along with a direction for suppliers of vital goods and services to avoid taking any steps against the airline. The airline also seeks uninterrupted departure and parking slots from the DGCA, Airports Authority of India (AAI), and private airport operators, respectively. The airline has requested continued fuel supply for its aircraft operations from fuel suppliers. Gö First, which is grounded due to a lack of engine supply from Pratt & Whitney, is indebted in large amounts to both operational and financial creditors. The NCLT petition states that the airline owes lessors Rs 2,600 crore, while financial creditors are owed Rs 6,521 crore as of April 30.