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Search resuls for: "Arpan Chaturvedi Aditi Shah Aditya Kalra"


2 mentions found


☆ India's Go First airline gains bankruptcy protection, lessors' woes deepen
  + stars: | 2023-05-10 | by ( Arpan Chaturvedi Aditi Shah Aditya Kalra | Arpan Chaturvedi | Aditi Shah | ) www.reuters.com   time to read: +4 min
In granting bankruptcy protection, the National Company Law Tribunal in New Delhi ordered a moratorium on Go First's assets and leases. But bankruptcy protection supersede lessors' repossession requests. Go First's lessors also include SMBC Aviation Capital and CDB Aviation's GY Aviation Leasing. Its voluntary seeking of bankruptcy protection to renegotiate contracts and debt marks a first for an Indian airline, and Chief Executive Officer Kaushik Khona, who was present as the order was read, hailed the tribunal's decision as "historic". The Indian tribunal said the new resolution professional will take "all necessary steps including the execution of the arbitral award".
☆ India's Go First airline gains bankruptcy protection, moratorium placed on leases
  + stars: | 2023-05-10 | by ( Arpan Chaturvedi Aditi Shah Aditya Kalra | Arpan Chaturvedi | Aditi Shah | ) www.reuters.com   time to read: +3 min
This is the first time an Indian airline has voluntarily sought bankruptcy protection to renegotiate contracts and debt. But if bankruptcy protection is granted, those laws supersede lessors' repossession requests. Go First's lessors include major global names such as Jackson Square Aviation, SMBC Aviation Capital and CDB Aviation's GY Aviation Leasing. Two advisers to some lessors said there were major concerns that the granting of bankruptcy protection for Go First could force the lessors to embark on lengthy litigation to repossess planes. The person added that the development could lead to higher lease rates for Indian airlines in the future.
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