Go First Loses 54 Planes as DGCA Deregisters Aircraft Amidst Bankruptcy

The request for deregistration under IDERA was received by the regulator way back on May 11, 2023.

Aviation watchdog DGCA has deregistered all the 54 planes leased by Go First, days after a court allowed lessors to take back their aircraft from the bankrupt airline.

Bogged down by financial turbulence and engine woes, budget carrier Go First stopped flying in May last year and is undergoing an insolvency resolution process.

Foreign lessors that have leased planes to the airline had moved the court to take back the aircraft.

Against this backdrop, the Delhi High Court on April 26 directed the Directorate General of Civil Aviation (DGCA) to forthwith process the applications filed by the lessors for deregistration of 54 planes.

The high court had also said the process shall be done in not later than five working days.

A senior official at the regulator on Wednesday confirmed that all the 54 aircraft of the airline have been deregistered.

Some of the notices deregistering Go First's aircraft were uploaded on the DGCA website.

An A320 plane, having registration number VT-WJL, was deregistered on April 29. The request for deregistration under IDERA was received by the regulator way back on May 11, 2023. The lessor is based in Ireland, according to a deregistration notice.

Under the Cape Town Convention, a lessor can opt for the Irrevocable De-registration and Export Request Authorisation (IDERA). Generally, the option is exercised by lessors when there is a default by an airline with respect to a leased aircraft.

Go First stopped flying on May 3, 2023, and its plea for voluntary insolvency resolution proceedings was admitted by the National Company Law Tribunal (NCLT) on May 10 last year.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)