KEY MARKET The UK-based Aviation Working Group, which monitors leasing practices, has put India on a watchlist with a negative outlook. Standard Chartered's Pembroke Aircraft Leasing, CDB Aviation's GY Aviation Leasing and BOC Aviation have initiated proceedings to repossess planes from Go First. India is a critical market for lessors, in which sale-and-leaseback deals accounted for 75% of plane deliveries from 2018 to 2022, compared with a global average of 35%, according to analytics firm Cirium. But it has also been a challenging one with Go First following Kingfisher and Jet Airways - both of which went bankrupt over the last decade-plus. There are also growing concerns among some lessors about carrier SpiceJet against which Aircastle has sought to initiate bankruptcy proceedings. SpiceJet has said it is in the process of reviving its grounded fleet and has "no plans whatsoever" to file for insolvency.