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Global Lessors Demand More After India's Bill
11 Mar
Summary
- India enacted a law to ease aircraft repossession for lessors.
- Global lessors seek further changes despite the new law.
- The law aims to prevent Go First-like situations.
India enacted a significant bill over a month ago designed to facilitate the repossession of aircraft by lessors when airlines default on payments. This legislative action followed the disruptive experience of lessors with Go First's bankruptcy proceedings in May 2023. The Protection of Interests in Aircraft Objects Act allows for the quicker reclaim of leased planes, even in cases of airline insolvency. Despite this advancement, a prominent international group of aircraft lessors has expressed dissatisfaction and continues to advocate for further refinements to the law. Their ongoing demands suggest that the current provisions may not fully address all their concerns.
