Lessors left stranded as NCLT defers Go First insolvency hearing to July 11

Engine lessors have been left stranded as the National Company Law Tribunal on Monday deferred its hearing in Go First’s insolvency case to July 11. The National Company Law Tribunal indicated that it needed more time to study the Delhi High Court's order that told the Directorate General of Civil Aviation (DGCA) to deregister all its 54 aircraft by May 3, 2024. Engine lessors urged the National Company Law Tribunal that their engines are connected to some of the deregistered aircraft and if these aircraft are required to leave the country after deregistration, their engines must also be deregistered.They also told the National Company Law Tribunal that Go First’s Resolution Professional had no jurisdiction left now that the Directorate General of Civil Aviation has deregistered all the 54 aircraft as per the Delhi High Court, and the Resolution Professional has not challenged this. The Resolution Professional on Monday declined to clarify the future course of action for the airline.Go First had filed for bankruptcy in May last year. Since then, the lessors have been locked in a battle with the former owner of the airline, lenders, and the resolution professional to take control of their aircraft.