Lessors of Go First, formerly known as GoAir, have reportedly sought the deregistration of 13 additional planes from the Directorate General of Civil Aviation (DGCA) due to non-payment of lease rentals. The development comes after the airline already grounded 12 aircraft last month, following similar requests from lessors.
According to industry sources, the 13 aircraft in question are currently not operational, and the lessors have asked for them to be deregistered and taken back to their home countries. Go First has reportedly failed to make lease rental payments for several months, leading to the lessors’ actions.
Go First, which is owned by the Wadia Group, has been struggling financially due to the impact of the COVID-19 pandemic on the aviation industry. The airline has reported losses in the past few quarters and has been seeking additional funding to meet its obligations.
In response to the recent developments, Go First has stated that it is in discussions with the lessors and is confident of reaching a mutually acceptable resolution. The airline also said that it is taking steps to address its financial situation and is implementing a series of cost-cutting measures.
This is not the first time that Go First has faced such issues with lessors. In 2020, the airline reportedly received notices from several lessors regarding non-payment of lease rentals, leading to the grounding of some of its aircraft.
The deregistration of aircraft could have a significant impact on the airline’s operations and could lead to further financial difficulties. The airline is already operating at a reduced capacity due to the pandemic and the grounding of aircraft.
Go First is not the only Indian airline facing financial challenges due to the pandemic. Several other airlines, including Air India and Vistara, have also reported losses and have been seeking additional funding to meet their obligations.
