GoAir fiasco: Global leasing body downgrades India to ‘negative’

Small, financially weak and startup Indian airlines could now find it costlier to lease aircraft — which in turn could mean higher airfares and negatively impact connectivity. Global leasing watchdog Aviation Working Group (AWG) has downgraded India to “negative” from “positive” following lessors’ inability to repossess aircraft stuck with GoAir that stopped flying on May 2, 2023. As a result, apart from Tata Group airlines and IndiGo other Indian carriers could now see lease rental rise as lessors will factor in the risk in repossessing planes from them in case they go belly up like GoAir.