Parliament Approves Aircraft Objects Bill 2025 To Boost Leasing Industry In India
The Lok Sabha cleared the bill by voice vote on Thursday.
(Source: Unsplash)
Parliament on Thursday approved the Protection of Interests in Aircraft Objects Bill, 2025 that will help boost the aircraft leasing industry in India, which is one of the world's fastest growing civil aviation markets. The bill was passed by the Rajya Sabha on April 1.
The Lok Sabha cleared the bill by voice vote on Thursday.
Replying to a discussion on the bill, Civil Aviation Minister K Rammohan Naidu said the bill will help improve the cost efficiency for airlines as well as in faster expansion of planes through leasing of aircraft.
The bill will provide legal backing for the Cape Town Convention that mainly pertains to the leasing of aircraft.
There have been inconsistencies in leasing regulations for aircraft.
Under the Cape Town Convention, lessors can take back the possession of aircraft leased to airlines.
