New Delhi, Dec. 8 -- The disruptions at InterGlobe Aviation Limited (IndiGo) are "credit negative", said global credit rating agency, Moody's, adding that the airlines could face significant financial damage from loss of revenue because of flight cancellations, refunds and other compensation to affected customers, along with potential penalties imposed by the Directorate General of Civil Aviation (DGCA).

"We have downgraded IndiGo's issuer category score for human capital to 4 from 3, reflecting the adverse impact of slower hiring on the airline's operations. Although IndiGo does not have employee unions, its pilots, through broader pilot associations in India, possess significant collective bargaining power," it said.

"Although the fun...