Relief for Go First as NCLT accepts bankruptcy protection appeal, lessors worried

In what appears to be a major relief for Go First, the National Company Law Tribunal (NCLT) accepted Go First airlines bankruptcy protection appeal. Interestingly this is the first time that an Indian airline has voluntarily applied for bankruptcy protection to renegotiate its contracts and debt. The decision by NCLT is a saviour for the airline but has increased the woes of lessors. The decision will help the airline in maintaining its viability. The airline might even resume commercial flights with 27 aircraft. Commenting on the NCLT decision, Kaushik Khorana, CEO, Go First said: “This is a historic ruling as