ET: Jet Airways: Irish lessor moves NCLT seeking to take back Boeing 777

23 August 2019: Irish aircraft leasing firm Fleet Ireland, which had leased the impounded Boeing B777 plane to the defunct Jet Airways, Friday moved the NCLT seeking a recall of the tribunal’s July 5 order that directed DGCA not to deregister the aircraft on the ground that it is an affected party and thus needs to be heard.

The aircraft was seized by a European cargo operator at the Amsterdam airport end March for non-payment of dues. Following this, a Dutch court had ordered bankruptcy proceedings against the airline in May.

The tribunal adjourned the matter to September 3.

The bankruptcy tribunal had on July 5, prevented the Directorate General of Civil Aviation from deregistering the Boeing 777 plane, which has been under the possession of a Dutch cargo provider since April.

After the airline was taken to NCLT on June 17, the Dutch company had moved an application to the DGCA seeking to de-register the aircraft.

When the NCLT resumed hearing the case on July 5, the RP sought a direction to DGCA against de-registration of the plane citing the moratorium under the bankruptcy process.

Meanwhile, the RP informed the tribunal that about 200 employees have consented to the terms of the agreement on salary payments. The RP also sought a direction to the lenders on interim financing so that a portion of the pending salaries could be paid.

The tribunal comprising VP Singh and Rajesh Sharma directed the RP to file a fresh application in this regard.

The Economic Times reported



Categories: General News, India Bankruptcy

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