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India passes bill to clarify aircraft leasing laws, aiming to protect aviation market and possibly lower airfares.
The Rajya Sabha in India passed a bill on April 1, 2025, aimed at implementing international aviation agreements, providing legal clarity for aircraft leasing.
The Protection of Interests in Aircraft Objects Bill, 2025, ensures creditors notify the Directorate General of Civil Aviation before taking action on defaults, allowing repossession within two months.
Minister Kinjarapu Rammohan Naidu stated this will secure the aviation market and leasing industry, potentially lowering airfares.
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