Go First’s legal battle sends India’s Aviation compliance rating plummeting – A detailed analysis
Aviation Working Group (AWG), a global aviation leasing watchdog, has taken the unprecedented step of reducing India’s compliance rating for the second time. This decision has been made in light of ongoing disputes between India’s Go First airline and its aircraft lessors. The country has been placed on a watchlist with a negative outlook, casting a shadow on its aviation leasing industry.
Legal Tussle: Go First vs. Aircraft Lessors
The heart of this controversy lies in the legal battle between the financially troubled Go First airline and its aircraft lessors. The dispute escalated after Go First was granted bankruptcy protection in May, a move that shielded more than 50 grounded Airbus planes from being repossessed by lessors.
