Cash-strapped Go First airline, on Tuesday, informed the Directorate General of Civil Aviation (DGCA) that it has "no definite timeline" for the resumption of services. This was in response to a show cause notice by the aviation regulator.
"Go First hasn't shared any detailed plans or timelines on resumption of operations in their reply to us," Business Today quoted DGCA as saying.
Meanwhile, the suspended board of Go First on Tuesday filed caveats before the Supreme Court against four aircraft lessors—SMBC Aviation Capital Ltd, GY Aviation, SFV Aircraft Holdings and Engine Leasing Finance BV (ELFC). Together, the lessors own around 22 airplanes.
A caveat application is filed by a litigant to ensure that no order is passed against them without being heard.
The caveat was filed against the order passed by the National Company Law Appellate Tribunal on Monday, which upheld the order passed by the Delhi bench of the NCLT on May 10.
The Principal Bench of the National Company Law Tribunal (NCLT) admitted the plea of Go First to initiate voluntary insolvency resolution proceedings. It appointed an interim resolution professional (IRP) to suspend the company's board.
The aircraft lessors are opposing the insolvency proceedings against Go First and are seeking repossession of their airplanes whose leases were terminated before May 10.
—With PTI inputs
