AWG downgrades India in Go First episode

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.