Moto G - 4.4 Kit Kat Problems Viz. Battery Draining & Auto Airplane Mode
Google's (as I read on the social media) quick fix is to uninstall the applications that use the camera on the phone. For example Skype uses camera of the phone for video calls; and if you uninstall that app - the problem is likely to go away. It's not 100% clear whether that solution has worked for everyone. I'd request you to try it out and post your observations below.
There are other problems as well - few people have began complaining of the signal dropping significantly indoors. Also for some of the people the phone shows that it's in the airplane mode, while in reality it's connected to the 2G/3G networks.
Please refrain from upgrading to the latest firmware at least for a few days. In the mean time, please share your experiences / fixes / quick work around for addressing the new problems caused by 4.4 android in Moto G phones.