Go Air May Have Planes Repossesed, Complicating Rescue Efforts
- Leasing firms seek to take back 20 jets from insolvent airline
- Indian regulator should deregister planes within five days
Go Air is the third high-profile Indian airline forced to ground its entire fleet in the past decade or so in one of the toughest markets in the world.
Photographer: T. Narayan/BloombergLessors are seeking to take back possession of at least 20 Airbus SE jets operated by Go Airlines India Ltd., further complicating the insolvent carrier’s attempts to start flying again, even as a local bankruptcy court contemplates whether the company should get any respite.
Lessors including Dublin’s GY Aviation Lease, SMBC Aviation Capital and Pembroke Aircraft Leasing have applied to India’s Directorate General of Civil Aviation on Thursday to de-register the planes, including brand new A320neo jets, information posted on the regulator’s website showed. The regulator should typically deregister the planes within five working days of a request, meaning the clock is ticking for the airline controlled by billionaire Nusli Wadia’s group.