US-based aircraft lessor International Lease Finance Corp (ILFC) has sent second warning to India seeking return of six planes it had leased to Kingfisher Airlines . Earlier, ILFC had warned that India’s failure to return leased planes to their owners when the airline cannot pay dues could put the country’s aviation growth at risk. Meanwhile. these six aircraft are sitting idle at various airpor...ts after they were impounded by service tax department when the airline could not pay pending dues. For the purpose, the Airports Authority of India (AAI) can release the deregistered leased aircraft of the grounded Kingfisher Airlines for the lessors to fly them back only after required permission from the Ministry of Civil Aviation (MoCA). The Federation of Indian Airlines (FIA) is expected to send its opinion on the issue this week. However, India, being a signatory to Cape Town convention, has to comply with the treaty which states, in case of a default, lessors will have the first right to claim back the plane.
Posted on: Tue, 20 Aug 2013 17:39:02 +0000