India’s bankrupt airline, Go First, is facing a dispute with its lessors over the recovery of planes. ACG Aircraft Leasing, an Ireland-based lessor, has informed the court that critical parts are missing from at least two of the airline’s planes. The lessors are seeking to freeze the planes and Go’s assets due to the bankruptcy process. While Go aims to revive its operations, its fleet is currently grounded.
Go First and its foreign lessors have been engaged in a legal battle since the airline was granted bankruptcy protection in India. The bankruptcy has frozen the airline’s assets and prevented the recovery of over 50 grounded Airbus planes. The lessors have been unsuccessful in their attempts to reclaim their planes, citing concerns about missing parts that could harm their assets. They are only allowed occasional inspections of Go First planes.
ACG Aircraft Leasing is seeking to regain possession of the planes by highlighting the missing parts discovered during inspections. However, the court has yet to make a decision on the matter. In a filing submitted to the Delhi High Court, ACG provided pictures and details of the missing parts from two Airbus A320 planes. The missing parts include the captain’s “side stick,” a tiller, engine fan blades, a toilet seat, and an escape slide.
The filing does not specify who removed the parts or how they went missing. Go First, whose lessors include Standard Chartered’s Pembroke Aircraft Leasing, SMBC Aviation, and BOC Aviation, has not commented on the matter. The airline has expressed its intention to resume operations and secure investor funds, but its operations remain grounded.
SMBC, the world’s second-largest aircraft lessor, warned in May that India’s decision to block leasing firms from reclaiming Go planes would have a significant impact on the market and create a confidence crisis.
Go First has attributed its financial troubles to issues with engines from Raytheon-owned Pratt & Whitney. However, the U.S. engine maker has stated that the claims are baseless.
In conclusion, Go First’s dispute with its lessors over plane recoveries continues as critical parts are reported missing from the grounded aircraft. The lessors are seeking to freeze the planes and assets, while Go aims to revive its operations. The court has yet to make a decision on the matter.
