Go Airlines' petition against withdrawal of Sovika Aviation Services' insolvency dismissed by NCLAT

The National Company Law Appellate Tribunal (NCLAT) has dismissed a petition filed by budget carrier Go Airlines against an order passed by the NCLT allowing withdrawal of insolvency proceedings against Sovika Aviation Services.

The Mumbai bench of the National Company Law Tribunal (NCLT) had on September 23, 2021, allowed the Section 12A application filed by the Resolution Professional for withdrawal of the Corporate Insolvency Resolution Process (CIRP) against Sovika Aviation Services.

In May 2021, GoAir was rebranded as Go First.

Go Airline was also an operational creditor, which after coming to know about the process filed its claim on September 6, 2021. A response to it was sent by the Resolution Professional on September 10, 2021. The Resolution Professional was in the process of verification of the claims when the application under Section 12A was allowed by the NCLT on September 23, 2021.

Sovika Aviation is a provider of services ranging from aircraft management, ground handling and terminal management. Under Section 12A of the Insolvency and Bankruptcy Code (IBC), the tribunal can permit withdrawal of an ongoing insolvency process against a company subject to certain conditions.

Go Airlines' petition against withdrawal of Sovika Aviation Services' insolvency dismissed by NCLAT

Such application is filed by the company with the approval of a 90% voting share of the Committee of Creditors (CoC). A two-member NCLAT bench observed that the CoC in its seventh meeting held on March 19, 2021, had already resolved to withdraw CIRP against Sovika Aviation Services.

"In view of the sequence of events and facts brought on record that after Committee of Creditors approval dated March 19, 2021, for withdrawal of the CIRP proceedings against the Corporate Debtor after the settlement between the parties claim of the Appellant was submitted on September 6, 2021, we do not find any error in the order of the NCLT dated September 23, 2021, permitting withdrawal of the CIRP.We make it clear that we have not expressed any opinion on the merits of the claim of the Appellant and it is for the appropriate forum to consider and take a decision in accordance with law." The NCLAT took note of the respondent's submission that Go Airlines has already filed a suit before the commercial court, and notice for mediation has been received."Be it as it may. It is always open for the parties to take recourse to appropriate remedy as permissible in law. With these observations the Appeal is dismissed."NCLAT

It further said regarding the claim of Go Airlines, which has not been entertained in the insolvency resolution proceedings, it is always open for the budget carrier to take recourse to appropriate legal proceedings before an appropriate forum.

"The fact that claim of the Appellant (Go Airlines) has not been entertained in the insolvency resolution process, there shall be no bar for the Appellant to take the appropriate legal remedy as permissible in law," it said.

Prime Minister Narendra Modi laid the foundation stone on November 25, 2021, of what would be the fourth largest international airport in the world.

As part of the relentless efforts made by the Government of India to integrate and streamline air, rail and road connectivity of people, goods and services, with the advent of the Noida International Airport, Uttar Pradesh would become the only state in India to have five functional airports. 

Paving the way towards becoming a gateway to northern India, the airport would be able to facilitate trade as well as tourism in parts of India that it aims to connect by the time the first flight takes off from the airport by September 2024.

PM Narendra Modi with Jyotiraditya Scindia, Union Minister of Civil Aviation alon with the CM of UP Yogi Adityanath during the inauguration of Noida International Airport.

Situated at Jewar in Uttar Pradesh, the upcoming airport (Noida International Airport) would cater to all international flights and ease the burden put on the Indira Gandhi International Airport in recent years.

Apart from easing the burden and providing better connectivity, the project would also lead to a further inflow of investment (both foreign and domestic) as well as create widespread employment opportunities.

With more than INR 5,000 crore allocated towards the construction of the first phase of the project, more than one lakh employment opportunities are expected to be created on an accumulated area of nearly 3,000 acres.

Airport would also become the first in India to operate with net-zero emissions and entirely based on digital technology.

In what is touted to be a significant benefit to those who reside in the National Capital Region (NCR), local products and produce are expected to become much more competitive, as access to international markets would naturally become easier and faster, thereby benefiting crores of people living in Delhi, Noida, Ghaziabad, Aligarh, Agra, Faridabad, among other nearby towns and cities as well.

In addition, it is expected that time consumed in warehousing and logistics would be reduced significantly, saving considerable time with the introduction of the concept of an integrated multimodal cargo hub as well.

Since the airport terminal is expected to have a footfall of more than 1.5 crore passengers every year for the foreseeable future, the cargo hub would aid in the facilitation of smooth trade and operations.

It is expected that the completion of the project would further fast-track the construction of the Film City, the Medical Device Park and the Uttar Pradesh Defence Industrial Corridor.

Interestingly, the airport would also become the first in India to operate with net-zero emissions and entirely based on digital technology. In a new age India, the airport would give a fresh impetus to the development of a wide region.

Initiatives undertaken in the last few years have led to the realization of the common man`s dream of air travel under the UDAN scheme (`Ude Desh ka Aam Nagrik`). With a proactive government keeping a check on the timeline of the project along with the stated budget, it is widely expected that the target to complete the project by September 2024 would be met.

T-3, IGI Airport, Jewar Airport has the potential to make Noida what Delhi Airport made Gurgaon

Along with the basic requirements, it is quite possible that ground transportation to the airport from cities like Agra, Greater Noida, Noida, Gurgaon, Ghaziabad and Delhi would become feasible through road, rail and metro links by the time the airport becomes functional. Noida International Airport has truly proved to be a new `jewel in the crown` of Uttar Pradesh.

Since the country's independence, various Indian governments did not prioritize infrastructure as a sector. Though it was omnipresent in budget presentations and scheme outlays as a significant head but rarely ever seen on the ground.

It was with the advent of the liberalization reforms and the fast-paced developmental changes in the country, infrastructure was given a major fillip after huge overhauls within the system. It is in line with this idea that the Government of India, as part of its `Nation First` policy, laid special emphasis on the idea of building infrastructure for development.

(With Inputs from IANS)

Veteran stock market investor Rakesh Jhunjhunwala was in a defiant mood as he laid down the gauntlet to the sceptics of his multi-million dollar investment in airline Akasa Air is expected to start operations later this year.

“I am prepared for failure. I am surprised that people are surprised (by my investment),” said Jhunjhunwala, who was speaking at a Confederation of Indian Industry (CII) event on February 17.

The marquee investor has invested INR 275 crore for a 40% stake in Akasa Air to build a new airline from the ground up in partnership with some other veterans of the Indian aviation industry.

Rakesh Jhunjhunwala claims to have a strategy for Akasa Air and the aviation industry

Stock market investor Rakesh Jhunjhunwala on Thursday said he is investing USD 50 million in the new airline Akasa Air and got a game plan for the Indian aviation sector.

"I was telling Tata Sons chairman N Chandrasekaran that you are investing Rs 18,000 crore in Air India and we are investing USD 50 million in Akasa Air, hope I am not living in a pipe dream," he said.

Sceptics have raised questions over Jhunjhunwala’s foray into the space given the history of failed airlines in India and the low returns the sector has made globally. The development had drawn a myriad of responses on social media networks in India with the majority confounded by Jhunjhunwala’s decision to start an airliner.

Responding to the critics of his airline venture, Jhunjhunwala said he hopes to prove them wrong as he proved his family wrong when he entered the Indian stock market more than three decades ago. “Now it is a matter of ego,” the renowned investor said.

Jhunjhunwala sees his airline venture as being ‘frugal’ instead of ‘ultra-low cost’ and drew an analogy with European airline Ryanair to give a peek into his business plan. “I think I have got a business plan and you know Ryan Air was profitable from day one when other European airliners shut down,” Jhunjhunwala said.

Akasa Air has ordered one-fourth of the planes that current industry leader IndiGo has in its fleet

Jhunjhunwala’s foray into the segment comes amid one of the toughest times in the history of aviation because of the COVID-19 pandemic. “I think aviation in India is going to grow from where it is today, and in an industry where everyone is losing money pricing has to improve,” he said.

Jhunjhunwala said that Akasa Air has ordered one-fourth of the planes that current industry leader IndiGo has in its fleet. Media reports have suggested that the infant airliner is luring staff from rivals with stocks options and other incentives.

Backed by aviation veterans Vinay Dube and Aditya Ghosh, Akasa Air had in October 2021 got the no-objection certificate from the ministry of civil aviation to operate commercial flights.

Akasa Air will have services from metros to Tier II and III cities.

To begin with, Akasa Air will have services from metros to Tier II and III cities. There will also be flights from metros to metros so that the aircraft is moved around the system, CEO Vinay Dube said.

"We hope to get our first aircraft in the second half of April, the first commercial flight in late May or early June... we are working with the government, DGCA to go through all of the requirements that are there," Dube said.

Dube, who is also the founder and managing director, said the airline has started hiring people, setting up technology, creating processes and procedures, defining things related to customer value and proposition and planning route networks with airports. Currently, the carrier has more than 50 staff.

A proposal has been sent to the Union government for renaming 13 airports, including the one in Aurangabad, and a decision on the same will be taken by the cabinet, Union Minister Dr Bhagwat Karad said.

Speaking to reporters after arriving in Maharashtra’s Aurangabad city on Wednesday, February 16 the Union minister of state for finance said a proposal to rename the airport after Maratha king Chhatrapati Sambhaji was sent to the Centre earlier.

“I have been regularly following up on the issue. At least 13 airports in the country are to be renamed and the cabinet will make a decision about these airports,” Dr Karad said.

Dr Bhagwat Karad, Union Minister of State, Ministry of Finance

Earlier, while speaking at a virtual inauguration ceremony of an establishment in Aurangabad, Chief Minister Uddhav Thackeray had said that legislators who go to Delhi should pursue the matter of renaming the airport and get it done. 

A few days ago, the Minister of Civil Aviation Jyotiraditya M. Scindia in a written reply to a question in the Parliament said the government has accorded ‘in-principle’ approval for setting up a total of 21 Greenfield Airports.

This includes Mopa in Goa; Shirdi, Sindhudurg, Navi Mumbai in Maharashtra; Kalaburagi, Hassan, Bijapur and Shimoga in Karnataka; Datia (Gwalior) in MP; Noida and Kushinagar in UP; Hirasar and Dholera in Gujarat; Karaikal in Puducherry; Bhogapuram, Dagadarthi and Oravakal in Andhra Pradesh; Pakyong in Sikkim; Durgapur in WB, Kannur in Kerala and Hollongi (Itanagar) in Arunachal Pradesh.

Kushinagar International Airport

The airports accorded approval at Navi Mumbai, Mopa, Shirdi, Noida (Jewar), Hirasar, Dholera, Kannur, Bhogapuram and Kushinagar are international airports and the rest of them are domestic airports.

Out of these 21 airports, eight airports- Pakyong, Durgapur, Sindhudurg, Shirdi, Kannur, Oravakal, Kalaburagi and Kushinagar have already been operationalized.

A Vistara Airbus 320 with 152 people onboard returned safely to Delhi on Thursday, February 17 shortly after taking off for Amritsar due to a technical snag in the aircraft. The A320neo (VT-TNI) was operating as UK-697 when pilots got an alert for a hydraulic snag (yellow low-level indication).

Airline sources said the glitch was detected within half an hour of the flight taking off and the pilot immediately requested that the flight be granted priority landing at the Delhi airport.

Amritsar-bound Vistara flight rerouted to Delhi airport due to technical issue

A call was also received by the Delhi Police at 10:15 AM about the flight being turned around for an emergency landing, and the fire brigade was also put on standby as a precautionary measure.

As a precautionary measure, they decided to return to Delhi — the airline’s engineering base where rectification will be swifter — than to continue operating to nearby Amritsar. The plane landed safely at IGI Airport.

There were 146 passengers and six crew members onboard the aircraft.

“A technical snag was detected on Vistara flight UK 697 operating Delhi to Amritsar on February 17, 2022. As a precautionary step, the pilots decided to turn back and landed safely at IGI Airport. Another aircraft was immediately arranged to fly the passengers to Amritsar which took off at 1:30 PM post a technical inspection. Inconvenience to passengers is deeply regretted. Safety of our customers and staff is our top priority.” Spokesperson, Vistara

There were 146 passengers and six crew members onboard the aircraft.

Developed by McDonnell Douglas and Boeing in the 1990s, the "Boeing Bird of Prey" was a "Black Project" aircraft. Characterized as a demonstrator aircraft for stealth technology, it was never really intended for mass production.

Wikipedia

The aircraft's name is a reference to the Klingon Bird of Prey warship from the Star Trek television series.

Klingon Bird of Prey | Representative | Memory Alpha-Fandom

A low-cost program compared to many other programs of a similar scale, the demonstrator was not given an "X-plane" designation since it was majorly an internal project.

Although the YF-118 was never made into a fighter craft for the US Air Force, it did have a profound impact in the course of aviation history in more ways than one.

Developed by a team of engineers from McDonnell Douglas’ Phantom Works, the "Bird of prey" took off from a paper design to the skies for less than the cost of an F-35 today.

F 35 Lightning II | Airforce Technology

YF-118G: A Secret Pioneer of Stealth Aviation

A brief history

Based on the Have Blue technology demonstrator, the Lockheed F-117 Nighthawk secretly entered service in October of 1983, thereby proclaiming the arrival of the world's first stealth aircraft. Although designated with the prefix "F' normally assigned for fighters and widely known as a "stealth fighter", this aircraft was no fighter really. The F-117 was essentially a ground-attack aircraft disguised as a fighter-an attack aircraft, unlike anything the world had ever seen.

F-117 Nighthawk | Wikipedia

Although slow and cumbersome compared to the F-15s and F-16s, the Nighthawk was instrumental in the future development of aviation technology and air warfare doctrine among the world’s most powerful nations. For an aircraft that carried a radar cross-section of only slightly more than a tenth of an inch (0.11 inches), the F-117 was practically invisible to enemy radars.

The Northrop YF-23 would go on to compete with Lockheed's YF-22 and would eventually result in, what is now known as the "YF-118G"- the world’s first true stealth fighter.

Design and development

The Boeing Bird of Prey development commenced in 1992 at McDonnell Douglas's Phantom Works in the secrecy of Area 51, spearheaded by Alan Wiechman. Now Wiechman's name doesn't pop as often as you'd expect in the annals of aviation history when compared to other legendary engineers of the day. Nevertheless, his contributions to aviation stealth technology cannot be understated and he also received the Technical Achievement Award from the National Defense Industrial Association (NDIA) for his work in Low Observable aircraft design before the Bird of Prey was even declassified.

Alan Wiechman | Aviation Week

Tech and Specs

Because it was a demonstration aircraft, Wiechman and his team weren’t set on building the entire aircraft from scratch. Various parts and components came from here and there, for instance, the ejection seat came from an AV-8B Harrier, the control stick and throttle from a F/A-18 Hornet, and the rudder pedals came from an A-4 Skyhawk. The landing gear was adapted from Beech King Air and Queen Air aircraft.

It featured a commercial off-the-shelf Pratt & Whitney JT15D-5C turbofan engine, which produced just 3,190 pounds of thrust.

Pratt and Whitney JT15D-5C turbofan | Representative | Frontiers of Flight Museum

The clock was from Wal-Mart and the environmental control system was essentially a hairdryerAir Force Test pilot Colonel Doug Benjamin joked at the time

Colonel Doug Benjamin | The Society of Experimental Test Pilots

Crew1Length46 ft 8 in (14.22 m)Height9 ft 3 in (2.82 m)Wing-area (estimated)220 sq ft (20.4 m2) Maximum Take-off weight7,400 lb (3,356 kg)Service Ceiling20,000 ft Wikipedia

The aircraft was aerodynamically sound enough to fly entirely on manual hydraulics without the implementation of Fly-By-Wire.

With a cruising speed of only around 300 miles per hour, the stealthy aircraft was slower than a C-130 Hercules and its maximum operational ceiling of 20,000 feet meant it could fly less than half as high as a P-51 Mustang from World War II.

P-51 Mustang | Representative | Auto Evolution

The design took a holistic approach to stealth, reducing radar, infrared, visual, and acoustic signatures through its shape, the use of flexible or movable covers to conceal gaps, and by burying its engine deep within the fuselage behind a curved inlet duct and in front of an infrared and acoustic defusing exhaust outlet.

The Bird of Prey was designed to prevent shadows and is believed to also have tested "camouflage"- a phenomenon that involved changing its surface colour to match with that of its surroundings.

The aircraft made its maiden flight in 1996 and 39 more flights were performed through the program's conclusion in 1999.

Early investments in technology demonstration projects such as Bird of Prey have positioned Boeing to help shape our industry’s transformation. We changed the rules on how to design and build an aircraftJim Albaugh, President and CEO, Boeing Integrated Defense Systems, said in 2002

Although not frequently discussed in the present age, there are no platforms today which can be directly traced back to Boeing's Bird of Prey lineage.

That said, the only place where you'll get to see a live model is at the National Museum of the United States Air Force at Wright-Patterson Air Force Base, where Boeing donated the sole YF-118G Bird of Prey in 2003, where it is placed right above the museum's F-22 Raptor.

Air Data News

SOURCE(s)

COVER: The National Interest