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AIRLINE INSOLVENCY PROCESS
NCLT ends Go First's turbulent ride, steers co into liquidationGo Airlines has been admitted into liquidation by the Delhi bankruptcy court after lenders failed to receive a viable revival plan. The com...- Sunset for once-storied Jet Airways as turbulent insolvency flight endsJet Airways, once a leading Indian airline, is no more. The Supreme Court ordered its liquidation after years of financial struggles and fa...
- Dispute with Raymach Tech settled: SpiceJet to NCLTSpiceJet Ltd settled a dispute with Raymach Technologies over ₹2.7 crore worth of unpaid dues at the National Company Law Tribunal.
- SpiceJet closer to settlement with aircraft lessor Celestial, says formalities remainSpiceJet informed the National Company Law Tribunal (NCLT) that it has settled the matter with aircraft lessor Celestial Aviation, seeking ...
- Go First lenders to vote on liquidation amid lack of suitors: Sources"It appears that there is no interest from suitors for the airline and bankers are inclined to opt for liquidation rather than restarting t...
- Jindal Power drops plan to submit financial bid for troubled Go FirstRecent regulatory changes in the Insolvency and Bankruptcy Code (IBC) have allowed aircraft lessors to seize aircraft if payments are not m...
- Settlement talks between Go First and Delhivery, NCLT issues noticeThe settlement talks between Delhivery and Go First have failed, the counsels for both parties informed the National Company Law Tribunal o...
- Expression of Interest sought in Go Airlines possible saleThe last date for receipt of interest for the airline is set for Aug. 9, according to the advertisement.
- No plans to file for insolvency, says SpiceJet CMD Ajay SinghAjay Singh, chairman and managing director of SpiceJet, also said the airline has started the process of reviving its grounded fleet by “us...
- Plane lessor SMBC challenges NCLT move to admit Go First for insolvencySMBC Aviation Capital has challenged the decision by India’s bankruptcy court to admit Go Airlines' voluntary insolvency plea. SMBC, one of...
- SMBC Aviation Capital challenges NCLT order protecting Go First from recovery by lessorsOn Wednesday, the NCLT admitted Go First's plea for voluntary insolvency and admitted for the initiation of Corporate Insolvency Resolution...
- "Without Merit": Pratt & Whitney on Go First's allegations; to pursue legal routeThe airline, owned by the troubled Wadia Group, had earlier blamed P&W for the faulty engines that led to its ongoing financial crisis, and...
- DGCA issues show cause notice to Go First, asks co to stop selling tickets"In view of the sudden cancellation of flights and initiation of corporate insolvency resolution process under IBC by Go Airlines (India) L...
- Go First asks tribunal to urgently pass order on insolvency pleaGo First on Monday asked the country's company law tribunal to urgently pass an order on its insolvency plea, citing lessors' efforts to ta...
- NCLAT dismisses Go Airlines petition against withdrawal of Sovika Aviation Services' insolvency proceedingsThe Mumbai bench of the National Company Law Tribunal (NCLT) had on September 23, 2021 allowed the Section 12A application filed by the Res...
- Is there a need for a separate bankruptcy resolution process involving airlines? Lessons from Jet AirwaysThe resolution plan has been challenged in NCLAT by the employee associations of Jet Airways on the grounds of lack of clarity over pending...
- Jet Airways posted loss of Rs 5,539 crore in FY19The airline had posted a consolidated net loss of Rs 636 crore a year earlier.
- NCLT allows 90 days' extension for Jet Airways insolvency processJet Airways' resolution professional had last week filed an application in NCLT seeking 90 days' extension for the insolvency process of th...
- Jet Airways employees seek interim financial reliefThe once-storied full service carrier stopped flying on April 17 as it ran out of money for daily operations.
- Jet Airways evicted from Siroya Centre despite moratorium under NCLTThe move may attract legal action as the distressed airline is undergoing an insolvency resolution process directed by India’s bankruptcy c...
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