Lok Sabha passes Aircraft Objects Bill
The legislation is designed to provide a legal framework for the Cape Town Convention, which focuses on aircraft leasing.
The Parliament on Thursday passed the Protection of Interests in Aircraft Objects Bill, 2025, a move expected to support the rapidly growing aircraft leasing sector in India, one of the world’s fastest-expanding civil aviation markets.
The bill, which was approved by the Rajya Sabha on April 1, received the final nod from the Lok Sabha via a voice vote on Thursday.
In his remarks during the debate, civil aviation minister Rammohan Naidu emphasised that the bill would help enhance cost efficiency for airlines and facilitate quicker fleet expansion through aircraft leasing.
The legislation is designed to provide a legal framework for the Cape Town Convention, which focuses on aircraft leasing.
The bill aims to address existing inconsistencies in leasing regulations, allowing lessors to reclaim possession of aircraft leased to airlines under the terms of the Convention.
Naidu said that at times when civil aviation is growing in India, we need to have proper legislations in place so that we can bring in more planes into the country.
The minister said that the bill provides enhanced remedies for lessors and financiers, empowering them with Irrevocable De-registration and Export Request Authorisation (IDERA) to facilitate swift aircraft repossession in case of default.