New Delhi: Jackson Square Aviation Ireland Ltd, the lessor for the grounded airline Go First, has moved the National Company Law Appellate Tribunal (NCLAT) seeking directions to prevent its parked aircraft from being used for flying by the airline, a counsel connected to the case confirmed to Mint.
The lessor’s legal action is against the resolution professional (RP) of the airline, Shailendra Ajmera, and is scheduled for a hearing on Thursday at the NCLAT.
According to its counsel, Jackson Aviation is compelled to move the NCLAT because the National Company Law Tribunal (NCLT) did not grant the relief sought by the aircraft lessor, which includes the right to inspect the aircraft.
The latest plea also requests NCLAT to allow the lessors access to their aircraft in the manner that was allowed for Engine Lease Finance BV, an engine lessor that gained rights to access its engines on 18 August.
In the engine lessor’s case, the NCLAT modified the NCLT’s 26 July order that had allowed Go First to operate the leased aircraft. In its own directive, the NCLAT disagreed with the part of the NCLT’s order that restricted the lessor from inspecting the engines. Furthermore, in its 18 August order, the Appellate Tribunal directed the RP to set an inspection date within 10 days.
According to media reports, Go First’s Ireland-based lessor, ACG Aircraft Leasing, informed the court that critical components, including fan blades, escape slides, and other vital parts are missing from at least two aircraft. ACG submitted pictures and details of the missing items from two Airbus A320 planes in a non-public filing at the Delhi High Court on 28 July.
The list of missing items includes the captain’s “side stick” used for flying the aircraft, a tiller for ground steering, engine fan blades, a partially absent toilet seat, and a removed escape slide.
Meanwhile, the case regarding deregistration of the grounded aircraft, filed by the aircraft lessors, is undergoing regular hearings before the Delhi High Court’s single bench. Both the High Court’s division bench and the Supreme Court upheld the single bench’s ruling, permitting lessors to conduct inspections of parked aircraft.
Mint earlier reported how despite approvals from the aviation regulator DGCA, Go First RP Shailendra Ajmera has not been able to raise funds due to a Delhi High Court order.
The airline has approached the Committee of Creditors (CoC) for an immediate infusion of ₹100 crore into the airline and to be able to service its insurance and other statutory obligations.
Go First, earlier owned by the Wadia Group, filed for insolvency attributing financial troubles to Pratt and Whitney’s faulty engines. NCLT admitted the case on 10 May, and also suspended the board and imposed a moratorium on the airline’s financial obligations.
The moratorium prompted several Go First aircraft lessors, including SMBC Aviation Capital, SFV Aircraft Holdings, and GY Aviation Lease, to move the NCLAT. However, the NCLAT rejected their plea to stay NCLT’s proceedings.
Subsequently, lessors like Pembroke Aircraft Leasing 11 Ltd, SMBC Aviation Capital Ltd, Accipiter Investments Aircraft 2 Ltd, EOS Aviation 12 (Ireland) Ltd, SFV Aircraft Holdings IRE 9 DAC Ltd, ACG Aircraft Leasing Ireland Ltd, and DAE SY 22 13 Ireland Designated Activity Company approached the Delhi High Court. They sought the deregistration of the aircraft leased to Go First.
Download The Mint News App to get Daily Market Updates & Live Business News.
More
Less
Updated: 30 Aug 2023, 08:02 PM IST
www.livemint.com
Source link