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GoFirst may lose its planes and engines
![IndiaTimes]()
Wednesday, 1 November 2023
GoFirst, the bankrupt airline formerly known as GoAir, may no longer be protected under the asset protection provided by the Insolvency and Bankruptcy Code (IBC). The government clarified that the notification issued in October exempting aircraft and engines from the IBC moratorium is effective retrospectively. This means that unpaid lessors of aircraft and engines to GoFirst may be able to reclaim their assets. The move was made to prevent leasing costs from skyrocketing for financially weak Indian carriers.
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Wednesday, 1 November 2023
