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

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