Ad Here  
ONGC to draw down on reserves to meet CAPEX needs TCS, Indiaís biggest block buster Urja Sangam in Delhi German envoy Steiner caps a language row Airlines hit by service tax on lease Automobile sector in slump... Jet-Etihad Rs 2000 plus crore deal to be cleared Aircraft lessors to get protection from defaulting airlines Trends point to a hung assembly Fox Star Studios to tie-up with Bolly-wood and Kollywood Kolkata kisses goodbye to Ambi? Lanco to sell Australian acquisition SpiceJet in the news again TVS bullish on the two wheeler market? Singapore Airlines prefers Airbus How important is Modiís German visit... Hunt for new finance secretary on... Excise duty may halt the war in SUV market Hyundai Grand i10 awaiting launch Infosys not to cut prices Latin America beckons India for investments Wal-Mart studying FDI norms post split with Bharti LANCO opens negotiations with buyers for Karnataka power plant Vodafone slapped with tax notice of Rs 3700 crore Canada screams over IT outsourcing to India While MoTown is on a tailspin, the telecom sector is staging a rally Smartphone prices may change Vodafone to buy out minority shareholders Capital Notes Plans to double trade with Latin America GMR to raise US $ 250 mn thru QIP Carlyle invests in Trehanís Medanta Medical Centre Flipkart India in the red by Rs 280 crore Renault revving up small car launch
Aircraft lessors to get protection from defaulting airlines

The Directorate General of Civil Aviation is sitting on a new set of rules that will permit lessors of aircraft to impound aircraft of airlines defaulting on rentals due to them, provided the airline owns no debts to state-owned bodies or the lessor agrees to clear the debts of the airline.

The new DGCA rules are expected to bring down the aircraft lease rentals for the Indian airliners.  Rentals

had touched the ceiling after Kingfisher airlines was grounded.  The consequent payment disputes between airliners and lessors prevented the latter from taking their planes out of the country. Aircraft lessors had hit back by raising their leasing rates for the Indian market and seeking higher security deposits from the Indian airliners.

Author :
Reported On :
Sector :
Shoulder :
IE, the business magazine from south was launched in 1968 and pioneered business journalism in south. Through the 45 years IE has been focusing on well-presented and well-researched articles. When giants in the industry stumbled to keep pace with the digital revolution, IE stayed affixed embracing technology.
Read more
Economist Communications Ltd is committed to ensuring that your privacy is protected.
Read more
You agree that your use of this Website and the purchase of the magazine will be governed by these terms and conditions.
Read more
S-15, Industrial Estate,
Chennai - 600 032.
PHONE: +91 44 22501236