All articles tagged with #aircraft repossession
Spirit Airlines’ sudden bankruptcy left its fleet scattered. Nomadic Aviation Group retrieved the jets, racing to assemble crews—six hours to find 20 pilots—for ferry flights, then conducted airworthiness checks, refueling, and flight planning before moving the planes to two dry desert storage sites near Phoenix and Tucson to await leasing or scrapping decisions amid engine shortages.
India has been placed on a watchlist with a negative outlook by the Aviation Working Group (AWG), a global aviation leasing watchdog, for failing to comply with international aircraft repossession norms after airline Go First was granted bankruptcy protection. The move could raise leasing costs for Indian airlines and further hurt lessors' confidence in the world's third-largest domestic aviation market. The inability to repossess Go First's planes in a timely manner comes as Indian air travel is booming and hundreds of new jets have been ordered by local carriers, who regularly turn to lessors to help finance plane purchases.