Go First revival chance fades as HC allows lessors to reclaim 54 aircraft

The recent Delhi High Court ruling permitting lessors to deregister and reclaim the 54 Go First aircraft has ended creditors' hopes of obtaining a favourable valuation for the now-defunct airline. Without these planes, there are few assets left for the airline to be sold as a viable entity, potentially disrupting the current bankruptcy proceedings with no prospect of revival. The lenders will meet on Monday to determine the future course of action.The Economic Times (ET) quoted a source saying, "The latest court order makes the airline unsustainable. There was very little value in the airline because of the time taken for this process; now even that is not there. Lenders will have to seriously consider whether there is any value left in continuing the process or whether it is better to concentrate recovery efforts on other viable options."The High Court instructed the Directorate General of Civil Aviation (DGCA) on Friday to proceed with deregistering and surrendering all 54 aircraft to the lessors. Additionally, it mandated the resolution professional (RP) to furnish all relevant airline information to the lessors while prohibiting the airline from removing any documents or spare parts from the planes.