It was just a matter of time. Ever since Go First declared they were entering insolvency proceedings, their lessors must have started work on bringing their aircraft out of the airline. Over the past week, we have seen the first glimpse of the airline witnessing a run on the assets it hoped to protect through the insolvency proceedings, their aircraft.

7 Lessors asked for 20 aircraft to be handed over to them on May 4, 2023

Go First wanted to go to the NCLT to get a moratorium on their aircraft being taken away from them. However, the NCLT cannot do much while they figure out if it is in the ambit of their authority to grant this request. In the meantime, however, the lessors had already served notice on Go First via the IDERA (Irrevocable Deregistration and Export Request Authorization) route that they would like their aircraft to be returned to them.

The following lessors had served notices on Go First on May 4, 2023:

• GY Aviation (10)
• SMBC Aviation (4)
• Pembroke (1)
• JSA Aircraft (1)
• EOS Aviation (1)
• Callisto Leasing (2)
• Pioneer Aircraft Holding (1)

There are 4 A320CEO aircraft and 16 A320NEO aircraft which are sought to be taken away, out of which 11 were operating flights through May 2, 2023, when the airline shut down. These aircraft are as old as 0.6 years old (arrived in late 2022) and as old as 9.9 years old. Remember, Go First already lost two aircraft VT-WJU (3 years old) and VT-WJV (2.9 years old), which the lessors flew away in January 2023. This means that 11 of the airline’s 35 or so active aircraft will now fly away. However, more IDERA requests are expected soon, per aviation lawyers in the know.

The following aircraft are currently served for the IDERA notice:

• VT-WGL
• VT-WGY
• VT-GOQ
• VT-WGN
• VT-GON
• VT-GOO
• VT-WDB
• VT-WGE
• VT-WGD
• VT-GOP
• VT-WGV
• VT-WGQ
• VT-WGR
• VT-WGT
• VT-WGS
• VT-WGZ
• VT-WGX
• VT-WGW
• VT-WGP
• VT-WJF

6 Lessors asked for 13 aircraft to be handed over to them on May 5/8, 2023

Sky High Leasing Company had served notices on Go First on May 5, 2023 to return two aircraft to them. This has been further added by the following notices:

• Sky High Leasing Company (5, including the two mentioned above)
• Unknown (2)
• Goshawk Aviation Limited (1)
• ACG Aircraft Leasing (4)
• SFV Aircraft Holdings (1)

There are 1 A320CEO aircraft and 12 A320NEO aircraft which are sought to be taken away, out of which six were operating flights through May 2, 2023, when the airline shut down. These aircraft are as old as 0.3 years old (arrived in January 2023) and as old as 9.1 years old.

The following aircraft are currently served for the IDERA notice:

• VT-WJK
• VT-WJH
• VT-WGU
• VT-WJG
• VT-GOR
• VT-WGK
• VT-WGM
• VT-WGJ
• VT-WGI
• VT-WDC
• VT-WDD
• VT-WJA
• VT-WJI

Bottomline

Tough luck for Go First, but their best-laid plans seem to be coming apart. The airline wanted a controlled bankruptcy like the US Chapter 11 filing, but the lessors want their assets (aircraft) back rather than deal with a financially weak airline. At least 33 planes have already been served notice from a total fleet of 60 aircraft for the airline.

Where do you think this goes from here? Will Go First be coming back?

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