Tag: insolvency

NEW DELHI: India's promise that its airports will in future not become the graveyard for leased aircraft and engines stuck with bankrupt airlines - like grounded GoAir's fleet at present - has led to aircraft leasing watchdog Aviation Working Group (AWG) lifting its red flags recently issued for leasing planes to desi carriers. The government estimates leasing costs for Indian carriers could drop by about $1.3 billion as the same was hiked by lessors to factor in difficulties in repossessing assets following GoAir taking the Insolvency Bankruptcy Code...