AWG downgrades India again as lessors fail to get back planes from Go First ...Middle East

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AWG downgrades India again as lessors fail to get back planes from Go First
New Delhi: Global watchdog group Aviation Working Group (AWG) downgraded India to “negative” from “positive” on Thursday as foreign lessors have not been able to get back their aircraft from Wadia group’s grounded airline Go First, which declared bankruptcy seven months ago. AWG’s downgrade is expected to increase the cost of leasing planes for India’s commercial airlines such as Air India, IndiGo, Spicejet and Akasa. AWG had issued a positive watchlist notice in their CTC compliance index with a projected increase in India’s score after the government issued a notification dated Oct 3, 2023 providing that the moratorium under the Insolvency and Bankruptcy Code, 2016 will not apply to aircr

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