Parliament passes Protection of Interests in Aircraft Objects Bill

Parliament passes Protection of Interests in Aircraft Objects Bill

Replying to the 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 their fleets through leasing of aircraft.

Parliament Passes Protection of Interests in Aircraft Objects Bill

Get latest articles and stories on India at LatestLY. 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. India News | Parliament Passes Protection of Interests in Aircraft Objects Bill.

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In a major boost to global aircraft leasing firms, India’s Parliament has passed the Protection of Interests in Aircraft Objects Bill, paving the way for the country to fully implement the Cape Town Convention and Protocol — a global treaty that safeguards the rights of aircraft lessors. The legislation, approved on Thursday, aims to streamline the repossession of aircraft and engines when airlines default on payments. It comes in the wake of th…