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Lessors taking steps to secure aircraft they leased to Go First

On Tuesday, the airline filed an application under Section 10 of the Insolvency and Bankruptcy Code (IBC) in the National Company Law Tribunal (NCLT)

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Aneesh Phadnis Mumbai

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With Go First declaring insolvency, lessors are taking steps to secure the aircraft they leased to the airline.

At least two US-based lessors have applied to the Directorate General of Civil Aviation (DGCA) to deregister three Airbus A320 aircraft leased to Go First.

Lessors are also issuing notices terminating the leases as the airline has been struggling to make payments.

On Tuesday, the airline filed an application under Section 10 of the Insolvency and Bankruptcy Code (IBC) in the National Company Law Tribunal (NCLT).

The application will be heard on Thursday. Once approved, a moratorium will kick in that prohibits